Deposits as a Group

This tutorial shows how to group deposits.

ex: on October 21, 2019 you receive cheques from 3 customers as followes:

Ashburton paid $212.

Askews paid $18,020.

const. Concrete paid $9,350.

total deposit 27,582.

on the general ledger each one of these entries show up separately  but the total shows up on the monthly bank statement from your bank.

Now Sage has enables the Deposit module where the deposit can be totaled for ease of reconciliation.

On the home screen click on reconciliations and Deposits.

from the top make sure the Transaction and the Account refer to what you need. Click Select button on cheque side.

Once again make sure the bank account is selected and click on Add all and OK.

Press Process.  The total amount of the deposit will show up once your ready to do the monthly bank reconciliation. It will still show up as 3 separate deposits on the GL but on the reconciliation module it will show up as a lump sum for ease of reconciling the bank statement.

Hope this helped and if you have any questions on this or other how to. please drop me a note.

nk

Merging Two Companies Together

This was an interesting question where sometimes you need to merge 2 companies financials into one data base.

Either the Chart of Accounts can be utilized to accommodate the new company by issuing new set of account numbers.

or

The Project section of Sage can be used.

This tutorial will show you how to use and change the Project name to Departments so it makes more since in this instant.

at the home page drop down the Setup menu and choose Settings than Projects.

here you have three choices, Budget, Allocation and Name.

lets change the name from Projects to Departments.

press OK to Save.

Now its time to go into the Chart of Accounts and allow allocation for each appropriate account number.

once that is done you can start posting entries and allocating.

To obtain a report, from home page drop down Reports menu – Department – Allocation.

Here is what shows up for department allocation. Click OK to see the report.

Hope this tutorial helped.

Let me know if you have any other questions.

nk