How to print a bank statement

Select Bank > Statement.The Print Output window appears.Choose the type of print out you require and then click Run.The Criteria window appears.Enter a date range.This has a default of a 'From' date of 01/01/80 and a 'To' date which is the program date.If you accept these defaults, all reconciled transactions up to today's date are included in the report. You can change these dates so that only transactions within a specific date range are included, for example, a week or a month. To change the dates, click on the 'From' and 'To' boxes, and edit the date as required.If required, enter a range in the 'Bank Ref' boxes to select the banks that you want to produce statements for.Note: If a bank account is highlighted on the bank list, transactions for that account will be displayed.Click OK...

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Posted in: printing

Reconciling Your Bank Account

Bank reconciliation is the process of matching your computer bank records with the statementfrom your bank.We recommend that you reconcile your bank accounts when you receive your statement from the bank. By reconciling regularly, you will not have too many transactions to check and you willnot have to make as many adjustments for possible interest charges or overdraft payments.There are two ways to reconcile your bank accounts. You can use e-Banking Or, as described in this section, you can manually reconcile your bank accounts. Regardless of which method you choose, bank reconciliation is a formal check of the bank records you keep against the bank statement(s) you receive from the financial organisation(s) you deal with.You don’t have to...

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Posted in: bank

Recording a Bank Receipt

Use Bank > New Receipt to record any money you receive that does not go to pay invoices you have sent. For example, you can record;Bank interest.Dividends received.Money received for an insurance claim.Money received from a grant.The Bank Receipts facility is often used by cash businesses, for example, newsagents, bars and restaurants, where customers pay at the time of purchasing and no invoice is raised.You can record details of this money received in one or more of the different nominal accounts. By allocating your income to different accounts you can see at a glance the different sources of your money and how much you are receiving from each source. For example, you would record money you received from an insurance claim to the nominal...

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Posted in: bank

How to Post Direct Debit and standing orders

The best way to record regular standing orders or Direct debits is to post them as a Recurring Entries.Go to Bank> Highlight the bank account they are paid from and click the recurring tab> Click Add and you can enter the details of the regular payment. When these payments are due to be posted Sage will ask you if you wish to post these entries, by clicking yes Sage will automaticallly post them. However If you are VAT registered and not using cash accounting rules then you are best entering any invoices received which are subject to VAT in to the purchase ledger and then post the payment as a Supplier payme...

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Posted in: bank

Sage Line 50 and Instant Accounts Add-ons

Are you looking for all your useful information in one place? This dashboard will give you up-to-date realtime information on your data. Key features are; Works with any version of Line 50/Instant from version 7 upto version 2008 (with support for future versions easily maintained)Supports multi-companyDoesn’t require a user licence! (can have unlimited additional seats viewing the data)Completely FREE - this includes all future releases! How does it work? You simply launch the application, then if you are running a single company you are asked for your username and password just as you would when starting Sage normally. If you are running multi-company then you are asked to select the company. Multiple users can run off of one sign-in.You can download it from here:http://www.domorewithsa...

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Posted in: add-ons

How to use Sage VAT Codes

Sage suggests the following attributions for VAT tax code to use:T0 zero rated transactionsT1 standard rateT2 exempt transactionsT4 sales to customers in EC*T5 lower rateT7 zero-rated purchases from suppliers in EC**T8 standard-rated purchases from suppliers in EC**T9 transactions not involving VAT**** This tax code can be used for VAT-registered customers outside of the UK but within the EC. You must have the customer's VAT registration number entered on the customer record if you want to use the T4 tax code. If your customer is not VAT-registered, then you should use one of the standard UK VAT rates.** These tax codes can be used for suppliers outside of the UK but within the EC. In accordance with VAT regulations, EC VAT rate codes used for purchases are given a 'notional' rate...

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Posted in: VAT

Supplier Overpayment

For example a supplier sent an invoice for £105, mistakenly sent a cheque for £150 which was cashed. They have since sent a refund cheque of £45. In Sage already raised a supplier invoice for £105 but not sure how to post the payment of £150.When enter the payment of £150 you should be asked if you want to post the difference as a payment on account, say yes to this.1. Raise an invoice on the supplier for £45 with a T9 tax code to the suspense nominal code.2. Go into Bank -> Supplier, select the supplier and pay both the payment on account and the invoice. This will clear the supplier account.3. Raise a bank receipt for £45 with a T9 tax code to the suspense nominal code. This will correct the bank account and the suspence account.The above assumes you are on standard VAT accounting,...

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Posted in: supplier

Customer Statement in Excel format

In the customers screen, click on statement, Select your required statement,At the bottom of the Pop-Up box, (beside generate report)Select 'File' Click 'Generate Report' You will be asked to save to a locationBut, Under the file Name - in the Box 'Save As Type' Select 'Microsoft Excel Files (.xls) and Save.You will then have your Report/Statement in an Excel F...

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Posted in: Customer

Previous Year Adjustments

If you already done the year end routine and you want to post some journals for the previous year adjustments try to use this method.As a general rule you will put through Nominal > Journals the adjustments on the Balance Sheet codes & date them the last day of the previous accounting year. For Example if you have been given Journal entries by your accountant after finishing the year financial accounts, Corp Tax : Credit the Corp Tax Code in the Balance Sheet & DR the Retained Profit A/c.Make sure Don’t make any adjustments directly to the Sales or Purchase Ledger Control A/cs. If you have, for example, a debtor to write off – set up an Account near or next to the Debtors Control A/c called Credit Note Provision – or similar- Cr C/Note Provision DR Retained Profit ; &...

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Posted in: year end

Sending Customer or supplier data to MS Office

If you wanted to send customer or supplier data such as phone no. emails or addresses to MS Office applications try this way.Got to the Customer List and right click on the column headers. Select the eMail Address or any other column and it will be added to the list.Now go to File -> Send -> Contents to Microsoft Outlook or any other MS Office applications. that will do the job for y...

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Posted in: data

Canceling cheques

If you have issued a cheque by mistake and wanted to replace with new then this is the method you ned to use it.Take a backup of your data first!Select Suppliers from the stack bar In the tasks window above, select Write Off/Refund (this is in the top window)Select Supplier Cheque Returns > NextSelect the suppliers account > NextHighlight the payment you wish to cancel > Next Enter a date for the return and a reference (optional) > NextCheck your details are correct and click Finish to post.This will reverse the payment from the bank and reinstate the supplier invoice on their account. Now simply issue your new cheque and record the new details. I hope this should help you to cancel the wrongly issued cheq...

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Posted in: bank

Deleting customer or supplier records

You can sometimes delete a record from the Suppliers screen by just highlighting the record and clicking delete.If that doesn't work try going into the Suppliers Record from the Suppliers screen and clicking delete there.If neither work, try posting a credit or invoice to the same supplier which will take the supplier balance back to ZERO. Then go to Bank, Supplier, select the supplier and in the Payment column click 'Pay in full' to them all.Once it leaves a zero balance you could try the above two options again to delete the supplier record. At least the Supplier account will be back to zero again and you can start again although the correction you made will remain.Even if you post a credit to canel the invoice or Visa-Versa, You still can't delete the account as it has a recent...

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Posted in: deleting

How to post wages and salaries

Post wages and salaries we need to use Nominal > Journals, this way we can create some double entries to post wages and salaries on sage line 50. Here is the example------------------- Debit ----- CreditGross Wages ------2000Employer NI------ 220Net Wages--------------------1340PAYE Inc e'rr NI--------------880This basic example of double entries, now when you come to pay through bank or cash you need to make payment to net wages N/C and when we pay to Inland Revenue then you need to make payment to Paye N/C.I think this should help you to post your wages and salari...

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Posted in: Jounrals

Compressing Your Data

Use the Compress Data option from the File Maintenance window to return the unused disk space (created when you have deleted your customer, supplier, nominal, bank and product records) as free space. We recommend that you use this option if you have deleted a large volume of data.To compress your data filesEnsure you have taken at least one backup of your data.Click the appropriate shortcut button from the Year End option. Alternatively, open the File menu and choose Maintenance.Click Compress. The Compress Data Files window appears.To compress all data files, select the 'Compress All Data Files' check box. If you clear this check box, you can select the particular data files that you want to compress.To continue with the compression, click Compress. To exit without compressing, click Clo...

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Posted in: data

Running the Accounts Year End

The Year End option takes care of all of your financial Year End accounting.RememberBefore running the Year End option, make sure you have completed all of your month end procedures first.To prepare for your Year End, run your month end procedure choosing not to clear the audit trail. When you are sure that your month end figures are correct, change your program date to your Year End date. You are now ready to run your Year End. The Year End applies to all chart of accounts.To run your Year EndOpen the Tools menu, select the Period End option and then choose Year End. Alternatively, click the appropriate option from the Period End window.The Year End window appears.When you run the Year End, Sage Line 50 automatically resets the balances on...

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Posted in: year end

Changing programme Date

This feature is found in the Settings menu and lets you set any date to be ‘today’s’ date. The date you enter here will appear automatically every time you make a transaction in Sage Line 50, until you either change the program date again, or exit from Sage Line 50 (then it will reset itself to the correct date).To change your program dateOpen the Settings menu and choose Change Program Date. Alternatively, click the appropriate shortcut button from the Month End option.The Change Program Date window appears.Enter the date you require in the box provided.To change your program date click OK, or to exit without changing the program date, clickCanc...

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Posted in: Settings