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?

Hi, everyone. I paid money to the supplier for the service. A month later, the vendor was unable to perform the service on this invoice and mailed me a check for the full amount of the invoice. I need to deposit this check into the Funds to Deposit…

Looking for some direction please. I have a client who was to attend an event and paid the invoice in the current fiscal year. Because of Covid the event was cancelled. The event refunded 1/3 of the payment (direct deposit into bank account) and has…

Not sure how to enter Corporate income tax refund from prior year. Would this be a general journal entry and if so which accounts make sense? I am total accounting newby so pardon the simple question. If it were up to me, I would just call it miscellaneous…

We were told in September that if we did not upgrade our 2018 software that we would have problems and not be able to receive support. Essentially after many emails, we reluctantly decided that even in a slower economy that we would spend the $3500…

How do I issue a refund to client client who has overpaid? Cheque was deposited and overpayment was posted as a deposit.

In october 2013 we received a reimbursement by the government for our fiscal year ending 31 jan 2013. All the taxes were obviously already filed, and I am wondering where to allocate these amounts. Thank you!

Hello, I am new to accounting and Sage 50 Pro... I added all the balances from previous year in my Sage and register the first 3 months of this year. My fiscal year ends at 31dec. From previous year balances I see that there is an account receivable…

I vendor has recently issued me a refund for a pre-paid insurance policy that I cancelled. I tried to create a negative payable and then entered the cheque information, and everything balances properly, however the cheque does not show up in my Reconciliation…