Sage 50 Accounts V29 Update Download

[Rosalyn Pomposo]

Firstone is not showing up on my Income Statement. I comparted the set up to others that are pulling to the financial and it is the same.Second-I made sure that it is included in the "range" in financial statement designer. Any thoughts?

The other account is showing up on the income statement, but it won't carry up to the balance sheet. I tried to "over ride" the net income calculator and select the specific accounts, but even that is not working. Any help is greatfully appreciated!!!!

Essentially there are only two reasons why they don't show up - either they weren't within the financial statement ranges (or the ranges weren't expanded to include them) or there is currently a $0 balance in those accounts.

I started filling in for a bookkeeper a couple months ago while she was off work a few weeks (due to a stroke), and found that the accounts receivable was WAY out of balance. At first it was off by a whopping approximate $294,000.00. Through running the internal audit review, I found many entries (both sales invoices and payments received) that went to the wrong GL accounts. (Some payments went to A/R instead of operating cash; some sales invoices went to Refunds & Allowances - 32000 instead A/R, and there may have been one or two other wrong accounts that I can't recall right now.)

I'm at home this evening, but I know that I ran the internal audit for the last fiscal year - which was already closed, and I added up all the entries that went to the wrong GL accounts & then made adjusting journal entries to correct for those total amounts. Then I ran it for the current fiscal year-to-date & - maybe I technically shouldn't have - went into each transaction that had an error and corrected it. ( I realize this changes those past periods financials, but just couldn't think what else to do.) Now I have closed the gap to only being off by approximately $3200.

I really totally believe our customer's accounts are correct, & suspect the discrepancy is other unfound entry errors to wrong GL account(s). I looked through the GL account for A/R line by line, and nothing caught my eye as looking unusual. Should I run the internal audit review again going back to 2 fiscal years prior, or is there really enough reason? - Couldn't I just make an adjusting journal entry moving the amount to Miscellaneous income (whether as a profit or loss?)? Or should I actually take the time to open each line transaction for the current fiscal year on the GL for the A/R account, & make sure there are no discrepancies there?

I have a new client where the main business is consulting. Under the umbrella of his corporation, is his wife's company. The revenue and expenses are all tracked separately in their own accounts. However, I also have to keep the receivables and payables separate for each company. Is there a way on Sage to have more than one accounts receivable & payable account and link them based on the revenue? I've set the company up using Pro, but I could upgrade it to Premium if that version can do it.

Hi,

Sage 50 will only allow linking of one receivable and one payable G/L account. And of course if the subsidiary is truly separate, it has to have its own set of books and be consolidated anyway

If it's not legally separate from the main company, and more of a business segment, then you could use Departments and / or Projects to sort of keep track of invoiced amounts within a company file.

Department and Project reports are financial statement only, so they'll be able to tell how that business segment is doing, but they'll have no separate reporting or tracking for invoice aging, statements, receipts, or payments.

I hope that helps, please post back!

Randy

I am the new CFO for a company that has been using Sage CRE for 15+ years. I started to use the Reconciliation Dashboard to close my first month and noticed there are a number of cash accounts in the system that have not been used for years. They are incorrectly showing balances in Cash Management but the GL correctly shows them at $0.00. How do I remove the balances in cash management and delete these accounts?

I was able to locate that KB article, but I can not delete bank accounts that have balances from cash management. I guess I have a more serious issue. For example, there is an account that has not been used in a decade that is showing a balance of ($208,910.27) in cash management while the general ledger shows the accurate amount of $0.00.

How do I get the balance of this cash account to $0.00 in cash management without changing any other accounts, so that I can then delete the cash account? Like I mentioned before, I am new to my company and sage. I have no idea how CM and GL could be so far off for so long.

I had a similar situation about 10 years ago but you need to know your system well. It happens, because people neglect CM and worry about the GL and Fin Statements. Some don't know that Sage 300 has certain rules i.e. all AP related transactions should go through AP, all AR through AR and Billing, all Cash through CM - like the control accounts. You have "Accountants" coming in and entering a number of AJEs to balance books or you have a module assigned to a person that has no idea how to manage it.

You could turn off the interface between CM and GL (in CM) and do what you need to do in either CM or GL and then turn it back on. File\Company Settings\CM Settings\Posting & Interface settings. Then enter a CM entry with a certain date for the ($208K) under that bank account and you could use "clearing" account to offset. Make sure it is not carried over to GL ( I would have turned the GL posting to manual so that it stays in the NEW GL file and an option to rename it). Then go to CM and open reconciliation and click the one transaction for the positive 208K and the bank balance will be zeroed out. GL should be fine as the transaction is not reflected there. You have to make sure that the date of the entry and reversal is the same to not mess up fin statements. Hope this helps.

I had a very similar issue when I first took over as controller. Items posted to a bank account via Direct Job Cost entry or GL entry do not show in the Cash Management reconcile screen which causes the balances in these screens to be different from the GL balances. I did correcting entries in the CM module and then reversed the entries in the GL entry. This caused the GL balance to not be changed but provided an adjusting entry in CM that I could clear against. Once corrected, this can be prevented by processing all DJC and GL type bank related entries through a suspense account. For instance, refunds that I deposit but want to be applied to job cost, are posted as a deposit that credits the suspense account, and again in DJC with a negative DJC and debit to the suspense. Hope this helps.

I recently noticed that the Balance Sheet in one of our companies was not balanced. Upon further review, I discovered that three of the four loan accounts I have created this year are not listed on the Balance Sheet. I have verified the setup is the same for all four accounts. I ran a file doctor just to ensure there were no corruption issues. This particular company does not use prefixes, which I know can sometimes cause accounts to not group correctly on the balance sheet. The balances are listed correctly on both the Current Ledger and Trial Balance. Any ideas on what is wrong or how to fix it would be greatly appreciated!

You will need to open the FS design in Financial Statement Designer. The financial statements use ranges to group accounts on the balance sheet (and income statement). I suspect your range for the loan accounts ends after the first loan account and is not including the three you added this year.

I have both a fixed workstation at the office & a laptop for work travel. The workstation is considered the host where it contains all of the original accounts data located within the workstation's C:Drive.

My current practice at the moment, should there be a need for me to work travel is that, I would have to manually perform backup for each of the company account under my portfolio and thereafter manually restore each one respectively into my work travel laptop, and vice versa upon returning back to office, at which point the whole process can be tedious & time consuming.

Hence I was wondering if anyone within this community has ever used Sage UBS Accounting Software and attempted to auto-sync the accounts data located within one computer's C:Drive of the one part, and auto-sync it via Dropbox into another computer's C:Drive of the other part, in order to achieve a seamless data sync between two computers without having the need to manually perform backup & restore.

... ever used Sage UBS Accounting Software and attempted to auto-sync the accounts data located within one computer's C:Drive of the one part, and auto-sync it via Dropbox into another computer's C:Drive of the other part ...

Dropbox will only sync the files located in the Dropbox folder. As long as you can store the data for the software in your Dropbox folder and work on it directly there, it will sync between the workstation and laptop. Just make sure you never open the software on both systems at the same time or you'll get conflicted copies of your data.

If you can't move the data into the Dropbox and work on it live there, you'll need to find a third-party utility to do what you want, assuming that Sage hasn't created some integration using the Dropbox API.

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