Sage 50 Canada

Hi all, Hoping you can help me adjust my practice for deferring revenue and recording it as earned. Can you tell how you would approach recording deferred and earned revenue in the case described below? I'm about to onboard a very big client (i.e. many…

Hi, I'm starting bookkeeping for a new customer that already has a loan balance, how do I enter the historical balance left owing?

Hello, I have posted my GST remittances as follows: Debit GST Charged on Sales 2310 Credit GST Paid on Purchases 2315 This is done as Supplier Invoice - Cash, as it is done through my bank However, How do I Clear this off my GST Report for the…

Hi there, hopefully I can explain this correctly. I will show the 3 pics. We are returning the two postage meters from our two locations. First we have a payable amount of $50 + $2.50 gst that we owed to Pitney Bowes from one of our locations and I have…

I invoiced a client for $44.62 and he paid me $47.12. How do I record the additional $2.50 that he paid me so that I know to deduct that amount when he orders more in the future.

Hello, I am trying to figure out if I can see in the general ledger if a TAX CODE was used in any of the transactions. Ex. business owner renovated a rental unit for his own living- totally separate from business operations I would like to confirm no…

hello, I had a bill for for $262, which should have been $175. The vendor made an error on the bill. I paid the $262 to the vendor before the error was detected. How do i reconcile my books. I want the bank to reconcile, but I also want to show that i…

Hello, I have 2 invoices for goods received in 2021 but not charged until January 2022. Which date should I use to put them into the system? My year end is Dec 2021. Thanks, Karen

Hey I tried to find an answer to this question online, but couldn't find anything yet. So here's the deal. I have a construction company and they collect deposits or down payments or however you want to call it. And after the job is done they get an…

Hi, We have purchase orders set up but when we post an invoice to that order it doesn't affect the amount that's on the purchase order. It also doesn't show as completed if we post an amount that covers the full order. Is there something we need to…

I am trying to post an invoice that is for Leasehold improvements. The only accounts available to me are the G+A accounts. What setting do I look for to change this?

I haven't closed my year as there are problems with it but I have invoicing to do for the new fiscal year. I have been told that if i create an invoice and email it, it will not record. Makes sense to me but why when I go to do the next invoice, a new…

I have started a new Sage 50 company file, taking over bookkeeping for an existing corporation. The fiscal year ended June 30, 2021, so I set up Sage 50 with a fiscal year of July 1, 2021 to June 30, 2022 (this means the earliest transaction date had…

Why won't Sage update their accounting system in PAYABLES to allow a credit card payment to be printed. I have talked to Sage about this and they feel it is not important enough to spend the money to create this feature. I think that a lot of small businesses…

Hello there, we are thinking of paying a bonus to a labor subcontractor that did a great job finishing a project. I am not sure how to proceed in Sage - do I put this under account of labor subcontractors - but that would mean we have to have an invoice…

When I click on my payments icon on Sage 50 version 2021, I can't pay?? Any reason why it doesn't work??

I'm wondering what the proper steps are for setting up a credit card that was moved from an old company to a new one? The credit card that was moved has an opening balance of 17,784.64, however the company file has several months of transactions recorded…

I need help please!! The owner of the business pays miscellaneous expenses out of pocket via cash such as gas, supplies etc. To post these, I set up a liability account as a payable (vendor) and called it "owners cash receipts". Any items posted to this…

Okay, here's my dilemma... I do bookkeeping for a small business - a women's clothing store. I took over the job from the 80+ year old husband of the owner. After a year, I'm still trying to get things in proper order. The owner writes a lot of post…

Hi I would like help if anyone knows how this may work. We are a dump truck company that hires alot of subcontractors. When we receive their invoices we need to actualy price them out and enter them into the purchases. Normally when an invoice is received…

Our previous bookkeeper did not reconcile our accounts properly so now under the banking tab, I have balances that do not match what is in the bank. Most of the transactions are from 2015, I am wondering what is the best way to clear these amounts from…

Hello, first timer here. I've been using Sage?Simply for 15 years or so, this year we have an invoice that was missed in December. How can I create an invoice so it shows as income for 2013? Thanks for any help. Helen

Hello, I'm having issues bringing up the entries in a journal number. I see it everywhere...GL, Receipts Journal etc. but when I click on it, I get an error message "There is no data to report". There were no changes, so I'm not sure how I can access…

I wrote a post dated chq to our Clubhouse Mgr for a wrong amount. Once I realized what I did I reversed the payment and reversed the original invoice. The Mgr said there's an issue on his end as he already took a picture of the chq to deposit it for the…

Hi, Could you please explain the differences between credit notes and credit memos?