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Hi there,
I took over the book keeping for a company and the previous book keeper was not consistent with using the bank rec for the credit cards. The Company year end is Oct 1 - Sept 30th.
I am trying to go backwards to clear out and reconcile 2022…
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?
How do I Delete complete vendor, purchases and payments to start over. I added a new vendor Jan 1, 2024 and added purchases (pay later) and then payments. For some reason it is not working out and I want to delete the whole thing and restart. Can this…
The business sold during the year and the proceeds of the selling transaction were not deposited in the business bank account, how can I close the books for tax purposes?
My starting balance is incorrect in my remittance summary. I tried to adjust the payments part so it would zero it out but it didn't clear it out. How can I get it removed or adjusted?
Help! I just noticed that on my review from the accounting firm they have indicated that I need to make journal entries for previous years to resolve the note on the year end adjusting journal entries sheet to address the comment "To record PY AJE not…
Hello, I need to clear old invoices however I need it to not impact the GL balance as the accountant said most of those payables are not in the GL anymore.
Thanks
I posted November reconciliation with 0 outstanding and 0 unresolved. Everything was correct.
Now, when I try to reconcile December, reversed transaction from November shows in bank reconciliation for the period of December. How can I fix this?
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…
CRA's rule is, when payroll periods and CEWS periods are different, business needs to stick to CEWS period without using prorate.
So. I needed to make a copy file for CEWS with different period, different pay frequency to many company's payroll.
However…
Please help me figure this out. I have overlooked a 2018 withholding tax payable and I just paid for it in January of 2020. How do I record it without making a mess of my current withholding tax record?
I have recorded it as follows:
Credit: Chequing…
Bonjour.
J'ai un solde débiteur pour le compte "Vacances à payer" créditeur et je voudrais le remettre à "0" car les vacances 2020 ont toutes été payées.
Une employée a reçu un trop payé de vacances il y a plusieurs années et nous ne tenons pas à…
I use Ceridian as our payroll provider and am wondering what is the best way to enter employer and employee deductions in sage when entering in the payment to the payroll provider?
I use different bookkeeping programs, but Sage is not my comfort zone. It does quirky things that I don't understand. Today's quirk I came across while trying to figure out the history of a ledger account. To view the transactions in a ledger account…
I found one of my monthly payments not recorded in the payment journal for the CRA yet it was in the GL for the month . The month was reconcilied and CRA payment made but working with the T4 Summary showed the error. I recorded the payment with the date…
My question is - I think I may have entered incorrectly
I'm working with GST remittances (Refunds or Returns)
I'm doing it as a GJ entry - 3 accounts consisting of GST Collected, Paid and Cleared
Once I enter my numbers in appropriate accounts then…
Re: Chart of Accounts:
After posting an adjustment, on Dec. 31, 2017, for Computer Hardware (Amortization):
Account #1850 (Net-Computer Hardware) balance is Zero.
But wonder why amounts for computer hardware - And - Accumulated Amortization continue…
Can anyone help me out? I need to make this adjusting year end entry into the a/p subledger
CRA-GST ----DEBIT ---$1111
RETAINED EARNINGS - PREVIOUS YEAR--CREDIT---$1111
not sure how to accomplish this, the amount was posted in 2 entries in the a…
I got a list of adjusting entries from the accountant and one of the adjusting entries is "Accounts Payable" which is a linked account so it doesn't show up when I enter the account number in the general journal. Not sure what the proper way to enter…
Hello all,
I am just getting back from a med leave and have found an error that my temp made. Wondering if anyone can help me out.
We post a recurring entry each month, which is a direct deposit to us. I had posted Aprils payment before I left. However…
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…
I can't start my new year because they don't balance! I don't know where to look, or how to add in a temp fix so I can move forward. I have an accounting firm go through my books at the end of every year, and I generally just make the changes and additions…