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Sprinter

Need help correcting chart of accounts set up by others

Posted By

New to Sage 50 and learning - need some help to correct chart of accounts for company I started to work for.   Accounts in 2000 range are set up as Liability with no sub-groups or totals.  Previous entries for company were only being done by journal entries.  Now want to enter properly in receivables & payables.  My biggest concern right now is the HST accounts.  Am I right that they should be tracked in this range ?  Previous was entering an account number in the 4000 & 5000 ranges by a journal entry.  Am I correct to change the 2### Hst payable & receivalbe accounts to sub-groups and create a Total group for them?

Thanks for any help you can give me.

Also they were using Pro 2010 - we upgraded to 2016 but things still are not right - Got windows not displaying totally.

Have wondered if the best way to correct it all is to re-enter company info completely new - would be a big job though.

Appreciate all suggestions.  Thanks in advance.

  • 0
    You said the previous entries by JEs were only to 4000 or 5000 ranges which indicates to me that HST was not recorded separately. If you do not have an HST number then you would not record this amount separately - instead the full amounts should be included as part of the 4000 or 5000 range of account nbrs.
  • 0 in reply to Smith and Co
    Thanks for replying - They do have an HST number. They were using an account # set up in the 4000 & 5000 for Hst amounts & entering a block amount by a JE when they received payment or paid invoices. Now I'm entering payables & receivables by the actual invoice & vendor/customer .They didn't do this - only say monthly amounts to accounts by JE, so I believe the Hst accounts should be in the 2000 range to track amounts properly - Am I correct ?
    Thanks again for any help.
  • 0 in reply to Sprinter
    ok I see - so yes you do need the 2000 G/L nbrs for both HST paid and HST charged. You can set both up in chart of account using 'A' for Type and then create another account HST Payable (Refund) using 'S' as type to be the total of the two G/Ls.
    You will need to go into Setup then Settings then Company then Sales Taxes t set up your 'Taxes' and into 'Tax Codes' to set up the codes - they should automatically be linked so that when you enter a sales invoice or a purchase invoice it will show the taxes.
  • 0 in reply to Smith and Co
    Thanks for your help ! I'll make changes as you suggested. .

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