• Bank transfer from outside account

    Hi all, I received a bank transfer from an outside account. How do I record this in sage? It was from a investment. A transfer won't work as its not my account the deposit came from. Thanks
  • wsib refund journal entry

    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…
  • How to handle Canada Covid-19 'CERB'

    Hello, I'm wonder what is the best way to handle the CERB benefit for a sole-proprietor who is required to be closed? This considering that the Benefit is not ‘sales’ related. I assume that at the end of the year the owner will receive a tax remittance…
  • Opening Balance for a Liability

    My brain has turned to mush! I have a loan that we have on an excavator..I need to but in the amount of the loan and apply payments and I can't for the life of me get it to work. Brain fog at its best and the more I try the more frustrated I get.
  • Unchecking "Save Transactions for Account Reconciliations"

    We very recently acquired a credit card account and I am doing the account recs on the credit card account thus far without issue... until now (we only have at this point, 4 credit card statements.) My question will be: should I just uncheck "Save Transactions…
  • PayPal as credit card - reverse payment on credit card

    I set up PayPal as a credit card in Sage 50. I made a purchase using PayPal. Having made the purchase via PayPal, I followed up with making a payment to the credit card, i.e. PayPal, for the amount of the purchase. This is what I've always done…
  • How does one deposit a refund cheque from the cancellation of an insurance policy?

    We recently cancelled an insurance policy and have thus received a refund of $357.00. How do I record this in Sage50? (Note: our insurance policy is considered a prepaid asset and is put to the account 1320 Prepaid Expense under the current assets section…