• Setting up accounts to show expenses and assets

    We are in the final stages of building a house that we will rent out. I have set up a project to track expenses and revenue, but not entirely sure on the accounts to use.

    Would I set up an expense account for appliances 5115 and an asset account 1840…

  • Accounting For Employee Purchase on Account

    Hi we had an employee use a company account to purchase an item, we paid it already, he now has paid us the cash for the purchase. What do I post and where...

    do I do a GL entry where I credit the expense account and debit the bank where I am depositing…

  • Recording Purchase Receipts In Sage 50

    Hello,

    I am working with a client that uses the business card for a lot of small purchases and provides the receipt as an expense. Meals, Transporation, Small tools/hardware.

    I did not want to enter these as a "payable" individually and began compiling…

  • Entering batch credit card expenses [years worth of data]

    Hi there,

    As a long time QBO user I am now struggling with understanding the intricacies of entering credit card expenses in Sage 50 as well as seeing historical transaction data. For example, in QBO I could enter expenses simply by going into the expense…

  • Owner used own funds((interact) to pay for expenses Sage 50 Canadian edition

    owner used his own personal bank account to pay(interact) for some opening expenses on new business he has opened. A account that I will not be reconciling. He did this before a seperate bank account and visa were set up. This a partnership. How would…

  • Subcontractor expenses

    Hi,

    I am trying to figure out the best way to record Subcontractor expenses in Sage 50 2017.

    Would it be best when entering the Subcontractor supplier invoice for labour to also record the expenses here

    i.e. gas reimb  or materials

    Also, if no receipt…

  • sales taxes paid for small business

    Hi, 

    I'm a new bookkeeper and asked my bookkeeping mentor about posting receipts with GST/HST amounts in Sage which require record sales taxes business paid.

    Do I have to record sales taxes paid by business if I don't collect them at the end of the…

  • How to enter regular internet expenses into Sage 50 Canadian

    I am an accounting/ bookkeeping newbie so please excuse the ignorance on my part. I have a small incorporation I started up in my home and currently pay about $80 a month for home internet charges which I pay personally. I would like to apportion about…