Sage 50 Canada

I made a prepayment to a vendor and recorded it. However, the vendor has now refunded the amount back to us. I'm not sure how to account for it at the moment, but the refunded amount has been deposited into our bank. any guidance?

How do I Delete complete vendor, purchases and payments to start over. I added a new vendor Jan 1, 2024 and added purchases (pay later) and then payments. For some reason it is not working out and I want to delete the whole thing and restart. Can this…

First time on here... How do I adjust the value of fixed assets? Specifically, the value of land and buildings owned by the company. Thanks.

Ran a pay period with the new update, should have counted as december 2023 but instead put it into the new year so there are deductions that shouldnt have been on there and cpp.

I track employee entitlements - vacation and sick days, and OT hours. I adjusted a previous paycheque, to correct an entitlement entry, then realized that employee had another entitlement change. When trying to adjust that employee's paycheque again,…

My starting balance is incorrect in my remittance summary. I tried to adjust the payments part so it would zero it out but it didn't clear it out. How can I get it removed or adjusted?

Help! I just noticed that on my review from the accounting firm they have indicated that I need to make journal entries for previous years to resolve the note on the year end adjusting journal entries sheet to address the comment "To record PY AJE not…

Hi Everyone, Hoping someone here can help put my mind at ease on what I believe I need to do. I have discovered that two employees should have had their vacation accrual % increase as of last September. I know to do this I simply need to correct the…

Hi Everyone, I paid a US based supplier a USD wire payment that did not go through due to inaccurate banking info from their end. I am trying to reverse the payment in the Payments window (with show all fully paid invoices on) so I can issue a USD cheque…

Hello, I have a YE adjusting entry that requires a debit to A/R and credits to both Allowance for Doubtful Accounts, and Misc. & Adjustments - this entry will correct writing off a bad debt twice. I know I cannot post directly to A/R, just not sure…

Hello everyone, I have a question regarding clearing an AR balance and a recorded allowance for doubtful accounts. My client’s previous bookkeeper recorded an allowance for doubtful accounts many years ago when an amount was deemed uncollectible. The…

I am trying to adjust a receipt that I made on July 31, 2022. I get a message saying "The transaction cannot be adjusted because the transaction date occurred before the previous fiscal year." Our fiscal year end is June 30th. I KNOW I did not create…

Hi, In June, I posted and invoice to the vendor. Now, after discussion the invoice is cancelled. How can I void it without affecting June reports? Can I just post another invoice with negative number and name it as a Void? Thank You

Hello, we are a medium size company currently using QBO. Once our accountant closes the books I am unable to make any changes to estimates. Is that a similar flaw in Sage 50? It causes me a lot of extra work because I frequently edit and update old estimates…

Why do the Journal numbers change when I adjust previous transactions? When I edit it , it counts it as another JE. I did up to 11 entries, but it says there's up to J45.

Took on a new client and had to create open balance sheet in Sage 50 from Dec 31, 2021 T2. I now have payments made in Jan 2022 for invoices posted in previous year (accounts payable) however I can not adjust via journal entry. How do I reduce AP? Th…

I have configured a payroll deduction for the Quebec drug insurance premium. Is there a way to include (or transfer) this amount at the end of the year to be included in the Quebec Income Tax Withheld amount on the RL-1 slip?

Hi, I would like to know how to deduct the group insurance in payroll, I've tried few ways but it did not work?

WSIB notified me that the entire industry sector (construction) had overpaid on premiums so they have issued a credit on our account - this is not actually a cheque but a balance on their system that any payments can be made against. My question is…

When customers come in to pay their invoices, there is a 2% charge for credit card payments, but I am currently manually calculating them, then adding it separately upon payment. Is there a way I can have that done automatically thru Sage somehow? Thank…

Hi, My payroll remittance and tax amounts are showing different than the initial payments I have made. for example in de 2021 sage is showing following numbers but I at the time of payment it was totally a different amount. CPP $8011.22 EI $3422…

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 don't suppose anyone knows if there are any plans for Sage to allow more flexibility in editing entries (instead of creating a reversing entry), similar to what QB allows?

The new owners of the company have paid the previous owners a "Working Capital Adjustment". I am not sure what GL I should use to post the debit . Can someone advise me on this? Thanks!

hello out there, hope somebody can help me. i do have an discrepancy of CPP /EI and Tax ( in my books it is higher then CRA gives me/ YAY:) Now i wanna post an payment made to receiver general, for the full amount. Do i put the rest off the payable…