• Year end/business end

    I have entered all my year (and business) end adjustments that my accountant provided me with, most accounts are now at 0$. However, data integrity shows anomalies in Supplier and Client accounts.  AP and AR at now at 0$, but the Supplier account still…

  • vacations payable - and vacation forward amounts

    Hi I how to fix vacation forward amounts for my employees.

    the system keeps showing data inconsistency and I believe is because the forward amounts are not correct

    thank you

  • Data Integrity Issues

    This is the first year we have been in a position to 'roll over' to a new year due to internal issues.  However as a result of starting a new company for every business year is over time you tend to accrue some errors that can not be easily traced…

  • adjusting an expense account opening balance

    I have to make a correction to the closing balance (July 31, 2019) of an expense account.  The entry was missed when matching the accountant's trial balance for July 31 2019.
    I obviously have to date the adjustment August 1, 2019 because that year is…
  • HST

    Help! The company purchased a vehicle a year ago and upon doing the year end, the accountant found that the HST paid on the purchase of the vehicle had never been submitted to the CRA. He said I could claim the missed ITC on the next HST return.  

    My question…

  • Year End Adjusting Entries

    Hi, I have some questions regarding posting my year end adjusting entries.  

    I started using Sage May 1, 2019 and set up our company from fresh. I am not a bookkeeper and am still learning the Sage program.  At May 1st, I entered the opening balances from…

  • How to update a year end report with an accountant's adjusted backup file

    I am using Sage 50 pro 2017 edition. I sent the 2018 year end backup file to our accountant. He adjusted entries, etc. and gave me an adjusted year end report as "Backup.SDB" file. I asked him to change the file to".TXT" file, but he said he couldn't…

  • Year ending adjustment

    My accountants gave me some year end adjusting entries but i can't post to some of the accounts in the GJ. i', using Sage 50. Please someone help me!

    Dr: Net Income   $42183

             Cr:  Accum Deprec- Bldg     $5905

              Cr: Accum Deprec- Improvements   

  • Data Integrity and Error Message.

    Hi! I am hoping you can help me! I ran a data integrity check before I was going to switch over to a new year and it has detected an error. It is showing -$25,000 in A/R as well as $25,000 as cash to be deposited, on the balance sheet. I have looked everywhere…

  • SK Mfg Investment Tax Credit Entry

    When the client receives a tax credit refund cheque - what account should be credited? Do you individually credit the asset accounts (as it is based on 5% of qualified property acquired in the current year)? And/or - should it have been made in the previous…

  • Needing to correct an error made in previous year after entering 2 months of data in our new year

    We have completed our year end, moved our systems forward, entered about 2 1/2 months of data into our new year. After this we found we had an error at the end of our previous year that has to be corrected. We went back and corrected the error in the…

  • Sage 50 CA Premium -- error in how Sage 50 calculates balances re home currency vs foreign (USD) currency?

    We have a USD account for Paypal. We enter the relevant date and exchange rate in the list used for that purpose (under Settings / Company / Currency). For example, at 30 Dec 2016, the Bank of Canada rate is C$1.3427 = USD$1.00, and in the FX list, we…

  • Deleting Current Year

    Hi All, this is all new to me....So I started my new year and have most of my information entered but just realized that I did not do my year end adjustments from my accountant. I cannot move back to the previous year, as I started a new one.....is there…

  • Exchange gain/loss - revenue vs expense and GST/HST filing "sales and other revenue" line 101

    Should we actually be using 2 different accounts for exchange gain vs exchange loss? It doesn't matter for the bottom line, net income will end up the same either way:
    Hmm... seems you can only configure one for the program to use automatically for…

  • How do you manually zero out or adjust CAD balance in USD account ?

    Similar too this post - it seems Sage does an automatic transaction if it finds a 0 balance at year end because it is quite obvious that if an account has $0 US funds in it, it must equate to $0 CA funds...

  • Advanced fiscal year end


    How do I reverse my advanced fiscal yearend? It advanced to May 2017 to April 2018 and should be May 2016 to April 2017.

    [email protected]

  • write off receivables in Sage 50 CA


    Here is our situation: 

    An old sale invoice became uncollectable, our accountant made a year end adjusting journal: 

    1xxx: Allowance for doubtful accts: CR 10,000; 

    5xxx: Bad Debt Expense                 DR: 10,000; 

    But, this invoice is still in our system,…

  • year end adjustments


    i am trying to post year end adjustments and need some help. I need to debit prepaid expenses (1201) and credit Insurance (5140). i can't do a journal entry because i can't post to prepaid expenses. Also i need to debit maintenance expense (5130) and…

  • Year end adjustments

    I have to post year end adjustments for 31/08/2014 but my session date now is 30/12/2014 how can i go back and post year end adj. to 31/08/2014?

  • Posting year end adjustment to inventory account

    I am doing general journal entries for the accountant's year end adjustments.  There is one account that won't let me post, acts like a linked account, (it will not appear in the drop down menu).  The account is Inventory account, but when I look…

  • Year-end adjustment

    Hi, I'm using Simply 2009 Pro - the accountant has asked me to post a debit to 2460 (Prepaid sales/deposit) and a credit to 5750 (realized exchange gain/loss). This has to do with "adjusting exchange on USD accounts" However, when I try to post in 2460…

  • Invoices to post in new fiscal year before current year end closed

    Hi, I am having trouble going into 2014 to enter sales invoices now  The 2013 year end is not ready to be closed off yet.  I have gone into Settings, Company and System and made the setting to allow transactions 30 days in the future.  It still wll not let…

  • Adjusting expenses.

    I estimated bills like phone, electricity to close out year end how do I go back and adjust entries now that it was closed? 

  • Pesky "Deposit Paid"

    Hi there,


    I am fairly new at my job and came on during year end. During year end we began clearing up any stale dated cheques, etc. We were able to account for all of the stale dated figures and most of them were simply improper allocations.…

  • Confusion about making year end adjustments

    I've got a new customer's company file with 2 fiscal years of data, and I'm about to start a new fiscal year

    FY2011 ends June 30,2011, FY 2012 ends June 30,2012 - I will be starting FY2013

    before starting FY2013, I was going to do a 'save…