Sage 50 Canada

We are an analytical testing lab that buys many consumable materials and reagents. Is there a way to account for these things as an asset before they get used up? These items are not technically "assets", but they are an asset to us until they are gone…

Hi all, I am very new to accounting practices, and when I have questions I often turn to other professionals, internet forums (like here ), or to Universal Construction to sort things out, generally with success. I've tried all these and can't seem…

New to book keeping and new to dealing with inventory... I'm confused how we deal with inventory tracking in sage 50 Canadian edition. I set up our inventory module and added inventory items successfully. For each item, it asked me to link an asset account…

I am setting up a new company. In Settings > Vendors & Purchases > Linked Accounts > Principal Bank Account there are no options to choose from in the Drop Down List. I have changed my bank account class options in the Chart of Accounts > Class Options…

I'm wondering if anyone can help me. My husband runs his own carpentry business, and we recently got a grant that would pay 50% of the cost of certain items. I have a few questions: 1. How should I apply this grant in Sage? Eg: We spent $1000 on advertising…

We are a new business (about a year old), and my husband's truck is used 100% for the business. I don't know how to account for this in the system? It's already completely paid for. How to I enter the value of this truck into the system? Debit Vehicle…