Sage 50 Canada

Hi all, I have a SaaS specific question with regards to non-payment/bad debt. A client was invoiced 6 months ago for an Annual Prepaid Subscription (so a liability that turns into earned revenue each month). We completed onboarding and various other…

After posting YE adjustment for bad debt in GJ, my client aged summary report still shows the client. Here is the adjustment that was made: 1201 (Accounts Receivable) Cr 2000 1205 (Allowance of Doubtful Accounts) Cr 10000 2310 (GST Charged on sales…

I need some insight on how to make adjusting entries for expense accounts from 2018 to 2019 that were not claimed for 2018 Taxes. I need to carry forward the amounts I made from receipts and Invoices that were charged and paid for in 2018. For example…

Hi We had an employee go on maternity leave, for just under a year. We continued to pay her medical insurance. There were no weekly entiries made, as it normally came off her check . Now that she is back, i need to figure out how to enter her payments…

I was wondering if there was a way to move money from a journal entry that created a deposit months ago to a bank account and apply it to an outstanding invoice? The bookkeeper that I have taken over for never really paid any invoices and just created…

We have a company that we buy lab supplies and also have a service contract. Since it's the same company, I have to remember to change the account when I post the Service Contract which I forgot twice. One is posted in the previous year (15/01/2015…

My accountant has requested a series of Adjusting Journal Entries, including adjustments to Payable and Receivable Accounts: Here is a sample: 31/12/14 Accounts Receivable XYZ Inc - Account No. 1205 - Debit - 7592.20 31/12/14 Accounts Payable -…

I have a few invoices that are way past due but not yet in bad debt and the client now wants me to resubmit it to a different client name. Obviously i can no longer adjust the invoices as they are from a prior year. I know you guys touched this subject…

Client never paid this 2014 invoice and finally they came back to us stating that they already closed their 2014 books on March 31 and wants us to date the invoice as of April 01, 2015. I understand what they want but our year end is also March 31. The…