Sage 50 Canada

I have received two credit invoices from a supplier, we entered them into Sage 50 using the payables Credit Note option. When we look at the credit notes they show properly as negative dollar amounts, but when we run an Supplier Aged Detail report they…

I got income tax refund $100 I posted Dr. 1060 Chequing acct.& cr. 2160 income tax payable but in the financial Balance sheet under income tax payable has a balance $100 which I think should show .00 Do I do instead of put cr 5680 income tax expense

I have one cheque that was written in 2021 but lost. I need to VOID this cheque and reissue in 2022. I can reverse the original payment with a JE so the new cheque will zero out the 2022 expense. This will ensure that my expense stays in 2021 and does…

I know there was few topics on similar issue but it seems I didin't find the answer. I received following year end adjustments Account payables Cr 20 000 consulting services Db 20 000 Since I cannot do adjustments to accounts payables without…

The company I work for has been shut down since COVID started. I was laid off in March 2020 and am just returning to clean up the books and get up to date. Reconciliation had not been done since February 2020. Fiscal Year-End is December 31st. The issue…

I accidentally paid a supplier invoice with a personal credit card. I know how to credit myself for the mistake, but how do I get the amount owing to the supplier out of the payables ledger?

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…

So in March we paid a foreign exchange invoice (euros) but in April payment was returned to us for a different amount, Vendor is set up in Euros Original transaction was 2 invoices paid totaling 49.20 Euro, with an exchange rate of 1.5107582, so totaling…

Hi everyone, My company is having a refund from WSIB due to last year reconciliation. For some reasons the refund wasn't issued and staying in the account balance. We decided to not receive the refund and instead using it to pay off the latest month…

Hi we had an employee use a company account to purchase an item, we paid it already, he now has paid us the cash for the purchase. What do I post and where... do I do a GL entry where I credit the expense account and debit the bank where I am depositing…

Can anyone walk me through the proper journal entries for this? Just prior to year end I wrote a cheque to a vendor in the wrong amount but posted the correct amount on the invoice. Yes, I still handwrite cheques, lol. As it is a small amount, the…

When entering a P.O. for Vendor/Supplier and it is an inventory item, does it remove from Inventory when processing that order? Or does it remove when it has been invoiced. Our current process for inventory stock is done the following ways: -Sales…

Hi everyone, I am trying to pay a vendor with 3 credits. I entered the credits as purchases bills with negative amounts. But Sage doesn't let me to apply the credits and shows this info in the image. I paid exact the same thing for other vendors without…

Hello, I recently converted to Sage 50 Premium from Accountant Edition and I was previously able to make adjusting entries to GL 1200-1300-2100 now it is not allowing me to do this ( when I converted I was assured that the premium version had all the…

OK I have Sage 50 Pro Accounting 2020 I'm just about to start entering all the details etc but I'm confused as to what to put as the fiscal start and end date, the problem is I purchased inventory for this company back in July 2019 so in a sense I have…

Good day I try to close the account payable for the user not be able to enter invoice with the date prior to the new months however I am unable to do it because if I closed i can't enter the invoices and if I leave it open I change my prior report,…

Hi...I am having trouble reconciling my bank. I issued an extra payment to an invoice that did not exist with vendor. They pointed it out, i removed the invoice instead of reversing the payment. The cheque does not exist so therefore 1) Reissued cheque…

Why is it showing zero and where do I have to look to check the problem. Thank you in advance.

Hello, How do I remove a posted cheque payment for the companies credit card? Thank you

Bonjour! Je viens de commencer la comptabilité pour une petite entreprise qui ne s'en occupait pas vraiment. En gros : toutes les factures clients et factures fournisseurs passées en 2019 ont été mises ''À payer plus tard'' et jamais encaissés/payées…

Hello all, I need some help with a Purchase Order that seems to have glitched. Long story short, I converted it to a Purchase Invoice, but it still shows in my list of active Purchase Orders: Here are the relevant journal transactions. You can clearly…

We just paid an invoice dated in 2018 on March 27, 2020. It show up in the aged vendor detail report but it did not show up in Bilan nor accounts payables dated on Feb 29, 2020. I'd like to know why and how to resolve this problem. Can we enter an entry…

We overpaid a monthly utility bill for a year. The company has credited our account instead of remitting a refund cheque. How do I post the credit? I need it set up so that, moving forward, when I get the monthly invoice, I can deduct the amount from…

Trial balance and the Balance Sheet is showing a debit balance in AP, but Vendor aged report shows zero, on the same date. The balance in the trial balance is composed of the payments made on the invoices entered historically, and every invoice was paid…

I accidentally entered a payment amount in the 'interest box' when making a credit card payment.... then reconciled that bank account... What would be the best way to re assign to the correct accounts?