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…

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…

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…

I have posted bank charges in expenses tab in account reconciliation as of Oct 31. After year-end adjustments, my accountant asked me to move it for next year. For some reason this transaction was not showing up to him. How can I move it to November so…

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…

Our normal pay period is bimonthly (24 pay days) One person's payroll does not make sense because some periods, his pay stub is correct (march1-15, then 16-30) but some months, the pay stub is incorrect (april1-15, then 25-31). The bi-monthly salary…

Please help me figure this out. I have overlooked a 2018 withholding tax payable and I just paid for it in January of 2020. How do I record it without making a mess of my current withholding tax record? I have recorded it as follows: Credit: Chequing…

Bonjour. J'ai un solde débiteur pour le compte "Vacances à payer" créditeur et je voudrais le remettre à "0" car les vacances 2020 ont toutes été payées. Une employée a reçu un trop payé de vacances il y a plusieurs années et nous ne tenons pas à…

I use different bookkeeping programs, but Sage is not my comfort zone. It does quirky things that I don't understand. Today's quirk I came across while trying to figure out the history of a ledger account. To view the transactions in a ledger account…

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…

Our year end is March 31 ......and we use average costing of inventory allowing for negative values. I cannot figure out how to fix this, and it's completely messing with my inventory and financial statements. What is creating this variance line? How…

I work with Sage 50 Canadian Edition 2019.2 I have two paychecks that were posted in January with the wrong amounts. CRA remittance was paid based on these wrong figures. I need to correct in order to reconcile the account and do not know how to post…

I found one of my monthly payments not recorded in the payment journal for the CRA yet it was in the GL for the month . The month was reconcilied and CRA payment made but working with the T4 Summary showed the error. I recorded the payment with the date…

I realize this question may be very similar to others, I did look around though the forums... the answers to me didn't seem like they were what I was looking for, but I'm not an accountant in any stretch and started using Sage 3 weeks ago so please bear…

In the 2018, Outstanding there is an entry from 2014, how do I delete/reverse this entry. The entry doesn't show!

My question is - I think I may have entered incorrectly I'm working with GST remittances (Refunds or Returns) I'm doing it as a GJ entry - 3 accounts consisting of GST Collected, Paid and Cleared Once I enter my numbers in appropriate accounts then…

Hi, all: While I modified a sales invoice, this is error message: "The cost of one or more items has changed since you started processing this transaction. If you recently printed this transaction's Detail report, reprint the report to see the effect…

When the system was setup, the person who did the setup, opened the bank account with 50K CR instead of 50K DR. When I took over in January, I wanted to correct the opening bank balance. I went through the account setup and changed the opening balance…

Can anyone help me out? I need to make this adjusting year end entry into the a/p subledger CRA-GST ----DEBIT ---$1111 RETAINED EARNINGS - PREVIOUS YEAR--CREDIT---$1111 not sure how to accomplish this, the amount was posted in 2 entries in the a…

Hi We have a problem with my inventory. We do house and buidling wiring. We sold and install different type of cable and sometime it's sold foot by foot or in a package and I have an ''service'' item for that purpose. Also since we are in canada…

I got a list of adjusting entries from the accountant and one of the adjusting entries is "Accounts Payable" which is a linked account so it doesn't show up when I enter the account number in the general journal. Not sure what the proper way to enter…

The bookkeeper before me has the line of credit account set up as a cash account. So I am unable to record payments on it and account for it correctly. Sage will not let me simply change the account type to a liability. It is only giving me asset options…

Using sage 50 premium accounting. I recently started at a place that has their inventory listed in sage. It is our year end now, and I can't make inventory adjustments to actual because: When their inventory items were originally entered, they entered…