Sage 50 US

I am new to my organization and am looking at the balance sheet, which has Prepaid federal and state taxes as assets. These accounts look as though they have not been used at all for a number of years, What's the best way to zero these accounts out…

When we close the previous financial year and opened the new financial year, we noticed ending balance for an item in the previous year does not match with the opening balance of that item in the new year. We identified one entry in the old year was not…

I entered a bill for $3000 and paid it. the vendor called and said the bill was for $5000 and turns out I entered the bill wrong initially. Since the month was still open I changed the bill amount from $3000 to $5000 which created an open balance of…

I have an item that was purchased years ago for 57.00. Many purchases/sales for this same item have been made and as pricing increased over the years, the average cost has risen to 250.00. I need to switch the average cost of this item back down to 57…

We use job #s to track expenses related to different projects for profitability reporting. I've had an unused credit from an AP vendor on the books for several months that was issued for one job number. That job has since been completed and there are…

What is the best way to apply invoices to a customer deposit receipted to revenue and Prepayment was not checked? Is this possible - reading forum entries only refers to Prepayments.

Hi all - I recently inherited an accounting position where my predecessor was playing catch-up trying to re-create a company's records with incomplete information. The company uses 2 credit cards to help with cash flow in paying vendors. I recently…

Hello All, I recently took over the accounts payable department at my job. I learned that when they close the year out, they do close the current year, they actually close the prior year. For example: 12/31/15, they closed out 2014 not 2015. My questions…