Sage 50 Canada

Hi, I'm trying to setup Sage 50 and I'm becoming more and more confused! I do use Sage at my day job for entering payables and receivables, so I'm familiar with a lot of the program, but not familiar how to set it up to use for my side business making…

I need to change our chart of accounts due to a request from the owners. It is not just a couple of accounts but almost a complete overhaul, both in account names and account numbers. Year-end is July 31. Would it make the most sense to create a new…

I started doing bookkeeping for an incorporated company. There is only one shareholder. Which accounts do I need in the equity section of the chart of accounts? I do need a shareholder loan account because he used business credit card for personal things…

I am trying to get ready to file our taxes, I have been using the Income Statement Report for the tax year of 2014 to filll out my taxes, but I realized that the statement includes invoices dated Dec 2014, but payments were made/received in Jan 2015,…

Hello, I am trying to understand why different GL accounts that are set to specific currencies act differently depending on whether they are set to Canadian or US funds in GL account setup. So we use Sage 50 Canadian Premium Accounting 2014.2 - our…

Hello, As I am new to the bookkeeping world, I am a little confused on how some things work. The current issue I am dealing with is the following: I have adjusted the GL codes for some invoices which had payments attached to them. Now, when I go…

Hi, I am trying to finish entering the history, but when I try it says, "Either client's historical info, or the opening balance of account 1020 Cash to be Deposited, or both , is incorrect." The difference is - 55.87 in the 1020 Cash to be deposited…

Hi, I just entered my chart of accounts, which is verified. Then I entered the opening balances from my accountant's balance sheet. The only thing I did not enter was the last listing: Net income (loss). I don't know where to put this, or if I need to…

Hi, I have an account number 5280 and this is classified as a G&A expense. However, I would like to change it to 4XXX to have it as a reduction of sales because that account should be a reduction of sales. How do I go about this? When in single-user…

I'm wondering if someone can help me. My business will be borrowing $25,000 from our personal credit line, but I'm not sure how to track it in Sage. We will be paying the money back with 6.31% interest. Can someone tell me how to put all this information…

In Sage Simply 2012, how long do account numbers in the chart of accounts have to be: a minimum of 4 or 5 digits? Also, can an account number be changed at any time?