Sage Line 50 tutorial is designed for book-keeping software, in this blog we will teach you how to use this software. In sage line 50 blog you will learn about how to install and operate Sage Line 50 and how to install on network.

Checking and Clearing Your Customers’ and Suppliers’

Once you have entered your customers’ and suppliers’ opening balances you need to check
the figures and clear them from your Balance Sheet, to keep your books in order.
When you save the opening balances for your customers and suppliers, they are posted to the
audit trail and make up the Trial Balance report. They must be cleared to prevent duplicated
balances when you enter your nominal ledger opening balances.

Checking Your Customers’ and Suppliers’ Opening Balances Using
the Standard VAT Scheme


Complete the following process to verify your data and to check that the correct information has
been entered in the relevant places.

1. From the Customer Reports window, print the Aged Debtors Analysis and Detailed
Customer Activity reports.

2. From the Supplier Reports window, print both the Aged Creditors Analysis and Detailed
Supplier Activity reports.

3. Using these reports, check that you have entered the opening balances for each customer
and supplier correctly. Make any necessary amendments before continuing. To do this, use
the Customers or Suppliers option, double-clicking on the appropriate record and making
the required changes.

4. From the Financials window, print your Period Trial Balance report.
This will give you the figures for your debtors (customers) and creditors (suppliers) control
accounts, your sales and purchase tax control accounts and your suspense account,
which you will need for the next stage in the process.
You are now ready to clear the balances on these accounts.

Clearing Your Debtors and Creditors Control Accounts Using the
Standard VAT Scheme

After entering the opening balances for your customers and suppliers you should clear the
values in your debtors and creditors control accounts and your suspense account. If you do not
clear these balances, they will be duplicated when you post the opening balances for your
nominal ledger accounts and your Balance Sheet will be incorrect.
In order to clear the balances, you will need your Trial Balance report that was produced in step

4 in the previous set of instructions.
To clear the balances for your debtors and creditors control accounts using
the Standard VAT scheme

1. From the Trial Balance report, make a note of the balances on all of your nominal codes
and also record whether they are a debit or credit.
For example, your trial balance may look like this:

N/C Name Debit Credit
1100 Debtors Control Account 34515.00
2100 Creditors Control Account 9664.00
9998 Suspense Account 24851.00

34515.00 34515.00

Note: The debit total must equal the credit total.

2. From the main toolbar, click Nominal.

3. Click Journals.
The Nominal Ledger Journals window appears.

4. In the 'Date' box, enter the date of the last day of your previous accounting period.

5. Reverse your trial balance by posting a journal entry. If the balance on your Trial Balance is
a debit, process a journal credit for the same amount. For example, if you had the trial
balance shown in step 1 you would process the following journal.

N/C Dep Details T/C Debit Credit
1100 0 Reverse O/Bal T9 34515.00
2100 0 Reverse O/Bal T9 9664.00
9998 0 Reverse O/Bal T9 24851.00

34515.00 34515.00


Note: The debit total must equal the credit total.

6. Click Save and then Close.
You have cleared your debtors and creditors control accounts and your suspense account.
You are now ready to enter the details and opening balances for your stock (if appropriate).
If you have no stock, you can now enter the opening balances for your nominal ledger and
bank accounts.

Checking Your Customers’ and Suppliers’ Opening Balances Using
VAT Cash Accounting

1. From the Customer Reports window, print the Aged Debtors Analysis and Detailed
Customer Activity reports.

2. From the Supplier Reports window, print both the Aged Creditors Analysis and Detailed
Supplier Activity reports.

3. Using these reports, check that you have entered the opening balances for each customer
and supplier correctly. Make any necessary amendments before continuing. To do this, use
the Customers or Suppliers option, double-clicking on the appropriate record and making
the required changes.

4. From the Financials window, print your Period Trial Balance report.
This will give you the figures for your debtors (customers) and creditors (suppliers) control
accounts and your suspense account, which you will need for the next stage in the
process.

You are now ready to clear the balances on your debtors and creditors control accounts
and your suspense account.

Clearing Your Debtors and Creditors Control Accounts Using
VAT Cash Accounting

After entering the opening balances for your customers and suppliers you should clear the
values in your debtors and creditors control accounts, your sales and purchase tax control
accounts and your suspense account. If you do not clear these values, the postings will be
duplicated when you post the opening balances for your nominal ledger accounts and your
Balance Sheet will be incorrect.

In order to clear the balances you will need your Period Trial Balance report (from step 4 in the
previous set of instructions).

To clear the balances for your debtors and creditors control accounts using
the VAT Cash Accounting scheme

1. From the Trial Balance report, make a note of the balances on all of your nominal codes
and also record whether they are a debit or credit. For example, your Trial Balance may
look like this:

N/C Details Debit Credit
1100 Debtors Control Account 34515.00
2100 Creditors Control Account 9664.00
2200 Sales Tax Control Account 24851.00
2201 Purchase Tax Control Account 1439.32
9998 Suspense Account 21149.80

35954.32 35954.32


Note: The debit total must equal the credit total.

2. From the main toolbar, click Nominal.

3. Click Journals.
The Nominal Ledger Journals window appears.

4. In the 'Date' box, enter the date as the last day of your previous accounting period.

5. Reverse your Trial Balance by posting a journal entry. If the balance on your trial balance
is a debit, process a journal credit for the same amount. For example, if you had the trial
balance shown in step 1 you would process the following journal:


6. Click Save and then Close.

You have cleared your debtors and creditors control accounts, your sales and purchase tax
control accounts and your suspense account. You are now ready to enter the details and
opening balances for your stock (if appropriate). If you do not have any stock, you can now enterthe opening balances for your nominal ledger and bank accounts.

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