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Hi There,
I am new to Simply Accounting and I have Pro 2012. My question is I have moved from leasing a vehicle to purchasing one and I need to know how I enter the purhase into simplying accounting. It is financed through the dealer. for example say the purchase total is 30,000.00, the payment is 350.00/mon with an interest rate of 2.9% for 5 years and no down payment. what accounts would I have to setup for this. I hope this makes sense. If someone could point me in the right direction that would be greatly appreciated.
Thank you and enjoy your day.
HI Barry
you need to post the new vehicle purchase in simply accounting.
you should have a contract of sale that shows exactly what your payment is and the cost of borowing.
if the cost of borowing ex: $3000. / by 60 months (5 Years) = 50.00 / month interest.
when you post your monthly payment Credit bank 350., Debit vehicle loan 300. and interest on vehicle loan 50..
That takes care of monthly posting.
now to post the car purchase – Debit Vehicle asset account, in the long term asset section of chart of accounts, 1 thousand series numbers, and credit the principal portion
of the loan to Bank Loan account in the 2 thousand series numbers in the liability section of the chart of accounts.
there will be admin fees and GST/HST as well. you need to post the entry directly from the sale contract that you received from the dealer.
nk
Hi Nooshin,
That’s excellent.Thanks you so much for the response. Hope you enjoy your day.
I just set up a new company. When I did a journal entry it put the posting day into 2013 year which I didn’t notice until it was to late, now my bank balance is all out of wack….Help me fix this problem.The balance is sitting in as a (-)……..grrrr
Hi Laurie
so, the entry went into 2013.
First see what your session date is at, go to home page and click on maintenance and session date. the date should be today’s date.
you need to advance to date to the time that the error happend so you can pull up the jornal entry and fix it.
The seesion date and the 2013 date of error should be the same otherwise you entry will not show up.
nk
can simply accounting receive inventory items and process the invoice later
reason tax on purchases will be due , items are on credit should be due when i make a sale
Hi Elmore
You have to post the invoice if you need inventory in the system to sell.
Inventory and purchases go hand in hand, you cant update inventory without posting the purchase invoice and same
with selling, you have to post the sales invoice so inventory will be releaved.
nk
Is there a way to pull up some kind of report to see everything that was done over a date period?? Example march 1, 2012 – march 15, 2012?
Hi Katie
Yes, there is a way to pull up some kind of report to see everthing.
Go to Reports – Financials – Transactions by account or General ledger (depending on the version of simply your using) and pick one account
or all the acocunts to view.
hope this helps.
Nk
Hi, I have had a bookkeeping service doing my books and now want to do it myself in our home office. When I pick up my books from the service it will have all our chart of accounts and everything done but will be mid fiscal year. Is it possible to call Simply Accounting and have them walk me through the entire set up of my company into the program.
Thanks
Hi Darlene
You want to do bookkeeping in your home office.
You should get a backup of simply accouting data and you need to purchase the same version of program that your previous bookkeeper was using and restore the backup
onto your program.
By having the backup you should be able to start where your bookkeeper left off.
You can also have simply accouting walk you through the entire setup but you have to purchase the package that would able you to do that.
Good Luck.
nk
Hi, our financial year end was August 31, 2011 but I now need to post adjusting entries that the accountant send to me. What date do I use for these entries as I can no longer go back to to August 31, 2011?
Thanks!
Hi Bev
To post year end journal entries that the accountant has given you, stay in your current data and back date all the adjusting entries.
for ex: if your session date is April 11, 2012 you can back date to August 31, 2011. The program will complain that the date is last fiscal year but you can accept and it will update last year financials as well as the current year.
nk
HI Bev
Stay in your current year 2012 and back date the accountant’s entrie to August 31, 2011.
All the accountant’s entries should be dated August 31, 2011.
nk
Looking for more information on the “project module” Simply Accounting Premium 2011 I am using at work. We have a property management company that has special projects for the different properties and are wanting to use the project module section for tracking. I do not seem to be able to set up the account so that it prints in the budget section. I only have three pages of “general” how to information. Is there a way I can find more?
kg
Hi Kelly
You want to use the project modual of simply accounting program.
From your question I think you are trying to set up in the chart of account the expense accounts.
In the chart of accounts make sure the box to allow allocation to projects is clicked off that way you can allocate expenses for that account.
hope this helps.
NK
Set up a new company and put in previous year visa when it should have been zero, deleted it and it went to previous year retained earnings, is this right or what should I have done?
Hi Glenda
Your new company has Visa balance recorded in last fiscal year and it went to retained earnings.
Deleting the amount in visa down to zero is correct, but you still need to record the opeing balance to your visa.
for ex: if your fiscal year end is December 31 and as of that date the balance in Visa account is $1000. credit.
You need to do a journal entry bringing that balance to your new company setup by Crediting visa account and debiting retained earnings.
Hope this helped.
nk
I am fairly new to Simply but have used Quickbooks more extensively. I am using Simply Pro 2011. I want to send my statements and invoices, etc. to my email program, which it is doing, but instead of it going into my outbox, I’d like it to go to my drafts, so I can change it to html and add my signature. Do you know if there is a way to set up Simply to tell it where exactly to go in Outlook?
could you tell me what software program would be best suited for my business to purchase I have more then one business and I want to set up all five of them with one accounting program.
Thank you,
Patsy
Hi Patsy
I work mainly with simply accounting and you can setup your 5 businesses on that program.
Simply Accountng is an accepted program by Canada Revenue Agency and most accountants use the same program.
NK
Hi: A question about using recurring when posting invoices in accounts payable, can this be used by setting up recurring vendors and does affect anything in A/P, other than the due date.
Thanks in advance
Mary
Hi Mary
Yes, you can set up vendors for recurring transactions. It works well with insurance payments where its a fixed amount each month.
This will not addect anthinkg in AP.
nk
Can I setup two company at the same location with slightly different name such as 1. supplies ltd and 2. supplies canada ltd. Will this not over write the old company files.
Hi Sav
You can set up two companies at the same time with different names it will not over ride each other.
Make sure you know what path your creating these companies so you can refer to them and work on them as you need.
I usualy sugest having a designated file folder called (simply accounitng data) and under that folder having your company names.
nk
I just started for a company and she has entered in her reconciliation program, but I believe she didn’t check them off as paid, and re-entered the transaction. How can I remove them without affecting the bank stmt? Also, some of the transactions went back over the previous yearend.
Hi Chrys
You have some fixing up to do with the bank and reconciliation.
First – you need a place to start. Go back and see at what month the bank was actualy reconciled and you can trust the opening balance.
Dont use the reconcilation modual yet.
Do it manualy until you get a handle on it.
Once you have a proper opening balance, print the bank general ledger for the month you need to reconcile.
Than put your report side by side with the bank stmt and manualy go through and cross out what has been cleard and come to your o/s chqs and deposits.
Once you have established a solid ground than you can clear all cleared chqs and deposits from the reconciliation mudual and your balance should than be ok.
nk
I’m fairly new with simply accounting. It’s the start of a new company, bank balance was at 0. End of first month and tried to reconcile bank account. I can’t seem to get any of the monthly transactions into reconcile. Everything seems ok, dates, beginning & ending balances. I checked the box to reconcile on the account. What could I have missed? Any ideas?
Thanks in advance, Brenda
Hi Brenda
Your trying to reconcile your bank stmt.
Try doing it manualy.
Print out the general ledger for the month and with the bank stmt side by side and go through each transaction and cross off what has cleared the bank.
List all your o/s chqs and deposits.
Make sure the opening balance matches the bank or if it does not pin point what makes the difference.
You said your opening balance is zero in that case the bank should also be zero.
Try manual reconciliation and hopefuly it will work. Than transfer it to the simply accounting reconciliation modual.
nk
I have set up inventory in the inventory and services module, but when I create a sales transaction for an inventory item, my inventory is not affected. What am I missing?
Hi Gina
when you creat each inventory you have to click on link account tab and issue it the asset, revenue and expense account.
nk
We have just bought our Simply Program last year. I bought cheques for Simply and cannot figure out how to print them without the company information printing. Our cheques have the Company name and address on them. It also prints the cheque number, which I do not want. Any suggestions. I have used Simply for years, but never had this issue.
Hi Elaine
you are having trouble with your chqs.
on the home screen click on setup-reports and forms
on left side choose cheques
on the right side pick your bank
Form type: should be custome simply forms
click on customize forms
in this screen click on the name and press delet
because you have made changed to simply accounting form you must save your changes.
click on file and save as – make sure you take a note of where you are saving this.
you have to do the same to payroll chq settings before leaving this screen.
nk
Hello,
We are using multiple user, and in the process, multiple inventory codes have been created and used for the same item. Is there any way to merge them together so that all past invoices created have the same code for the specific inventory? (i.e: rose, rose1, Rose 3 multiples for one item.)
Or do I have to go back through the invoices and make sure they all use the same code, and delete the duplicates?
Thanks,
Leah
Hi Leah
re: inventory issue.
since several users were using the same data. you have to go back through the invoices and make sure they
all use the same code and delete the duplicates.
simply accounting does have multi user packages that you can purchase.
I have the 2 muser package and 2 of us can be working in the same data base.
nk
Hi,
I issued a check to a vendor for an invoice from 2011. I had to re-print the check in 2012 and now it is not in my records for my bank reconciliation. would i post a new entry to account for this check so it appears in my bank rec?
Hi Stung
You issued a chq in 2011 and reprinted in 2012.
If the chq is not 6 month old it can still be cashed. re-print the chq with the old date 2011 and your
bank will still be in balance.
If the chq is more than 6 moths old you have to print it in 2012. The result is that your bank rec will
be off by that amount in 2011 but it will be ok in 2012.
nk
The bank is performing automatic withdrawals for insurance, etc. How do I post these withdrawals so my bank statement can be reconciled?
Thanks!
Hi Sheree
You can post the automatic withdrawals from the bank in two ways.
1st – on the home screen click on general jernal. type in the source, date of transaction, give a comment and debit the expense account insurance and credit the bank.
2nd-on the home screen click on purchases, creat a vendor ex: abc insurance company- your invoice number can be the date the transaction came out of the bank and enter the amount in amount field and account in account field.
this way if you are unfamilier with debit and credit you can use the purchase module for all your transactions.
nk
Hi,
I am using Simply Accounting 2010 Pro and would like to know what the relationship is between the credit cards payable accounts and the credit card commissions accounts in the Expenses section. For example: I have a Visa Payable account and when I add a starting amount to this account the system wants to link it with the Visa Commissions account.
Thank you, in advance
Gregory
Hi Gregory
you must have allowed Simply accounting to creat the chart of accounts for you and all
the linked accounts are done for you as well.
I set up each company from scrach and design a chart of account geared to each of my clients needs with all the
linking and tax tables.
the only thing I can think of is that Visa Commissions means the discount fees you have to pay each time
someone pays you by visa, mastercard or debit.
nk
Can multiple companies be setup using Simply Accounting Pro?
Hi Steve
Yes you can create as many companies as you like with one copy of simply accounting program.
Make sure you have saved each company under a proper directory so you know where the data
file is for each company.
you have to set each company up with new chart of account, tax tables and link all accounts propery or
you can allow simply prgram to do it all for you.
nk
I am using simply accounting pro 2012 and already have 2 companies registered under one copy of simply. I need to create 2 more companies, is that possible?
Thank you.
Hi Lisa
Yes you can create as many companies as you like with one copy of simply accounting program.
Make sure you have saved each company under a proper directory so you know where the data
file is for each company.
you have to set each company up with new chart of account, tax tables and link all accounts propery or
you can allow simply prgram to do it all for you.
nk
Hi there! We are using Sage Simply Accounting Premium 2012. I am trying to turn on the “Projects” feature. I have followed the following steps:
1. Home Window – Setup Menu – Settings
2. On left side click Company – Features
3. Select Project box. This box IS NOT an available option. Available are Orders for suppliers, Quotes for suppliers, Orders for Customers, Quotes for customers and packing slips for customers.
When I go to help, it just tells me to follow the steps I already have.
Please help.
Hi Bobbi
you have to pull up the chart of accouts and click on any account and under account tab there
is a box indicating allow project allocation.
nk
the business bought a new vehicle and traded in an older vehicle. The auto dealer also paid out the loan on the trade-in. Not sure how to post this. There was also a down payment paid. Can you help me?
Hi Jody
this is a long posting.
Lets work through it.
you have to zero out the old vehicle and the liability on that vehicle off the books and
set up the new vehilce and any liability associated to it.
You have to establish where the down payment came from and post it accordingly, did the owner pay or did the business pay for the down payment.
This can all be done as a journal entry.
nk
I am quite new to Simply Accounting and would like to clarify if it is possible to go back more than one year from the current session.
Thanks,
Hi Maya
no you cant go back more than one year.
If your session date is in 2012 you can not post an entry in 2010. the latest
date you can go back is Jan 1, 2011.
nk
I changed the units on our inventory for small case to large. Now everytime I look up an older invoice (which we do often for pricing refrence) I get a meaasge saying the unit on line # has been changed. This happens for every item in the invoice. Is there a way to turn it off?
I had used Simply accounting in the past, and got away from it because I did not have the time to do the books myself anyway… I am considering puchasing the Simply accounting basic program, … but need to know if a customer list (addresses etc.) that I have on excel can be merged into the program…I do know that that basic will NOT open the old files from my past version of Simply Pro, so the only option is the excel files. The customer list is needed for service, and is extensive, having to re-enter thousands of customers names, addresses, and phone numbers is NOT an option.
Hi Stuart
I have never merged cutomer or vendor list into simply program. I think it will work but purchase the pro version and not basic.
Your best bet is to call simply directly once you buy the program and install it.
Good luck.
NK
why can’t I print sales orders anymore.
I used to no problem now it keep saying to choose a valid file but I did not change anything. I am using Pro 2007.
Hi Manon
I dont know why you cant print sales invoices but this is what you can do to fix it.
I work with simply 2012 so, hopefully there is not much differ to your 2007 version.
In the home screen click on setup – reports and forms.
On the right hand side click on sales orders. you should be printer form settings.
Custom forms should be ticked off.
Form type = custom simply form.
Description= sales orders
view and see if all is as you like.
click on file and save this form – best place is under simply data.
you also have to do the same thing for email form.
try this and hopefuly will work.
nk
The company I work for is in construction business and they are using the premier edition of Simply Accounting. I know Simply Accounting has the project feature for project accounting and it is use effectively here. This company has 5 branches and I want to have all branches have their separate books and financials, then consolidate at month-ends and year-ends. I don’t want to set-up these branches as a separate entity because they aren’t. I just want these branches have their separate records of transactions thus be able to generate their separate financials. How can I do this with Premier? Thanks in advance for your assistance.
Hi victor
You need FS for all your 5 branches.
You are currently using projects and that’s great. I was going to suggest same.
But to creat different FS for each is hard.
Because you only have one chart of accounts,unless you divide it between the five branches but you still won’t be able to create separate FS.
There will only be one FS and you would have to export to excel and manually separate income and expenses.
Sorry iam not much help. I had this issue with a non profit but she only had two branches so I was able to fit both on same chart of accounts. At FS time I exported to excel and separated them.
Nk
I forgot to put the % in an employees vacation box with simply 2012 with payroll. So for the last eight months it has not been accruing. I have fixed it for the next pay period but how do I go back and fix the last eight months of pay periods?
Hi Vivian
You need to catch up with employees vacation pay accrual.
Pull up an employee report that shows gross payroll for the past 8 months.
Lets say it’s 24,000 x4%= 960.
Now open up paychq modual and in vacation section put 960.
The result should be Dr. Wages and Cr. vacation payable.
Nk
I am using SA Pro 2011, how can i enter a work order to track mileage and services provided on jobsite for service personnel. i want these forms to create invoices.
Hi Kevin
You want to create work order for mileage and service and than turn it into an invoice.
You can set it up as a service inventory. Normaly inventory is used for tracking product, but you can use it for you purpose.
Set up a service inventory for mileage and one for services.
Create your work order by choosing that from your service inventory list.
Hope it helps.
Nk
I have Simply Accounting 2008 and I incorrectly entered the cheque number of a payroll cheque, how can I fix this?
Hi Josie
You want to fix a payroll cheque number.
It’s easy. On the home screen click on paycheque. At the top of screen click on paycheque and adjust paycheque.
The search screen pops up. Choose the date of the payroll and choose the employees name.
Adjust a paycheque screen opens.
Double click on the paycheque you need to adjust.
Change the cheque number and post.
Let me know if you have any other questions.
Nk
Why can my client post a zero balance customer invoice in Simply? It is a result of an improperly done purchase order that is changed to an invoice when no Quantity of item has been identified, and therefore no $ amount is generated. They are able to post this entry.
I had Simply Accounting in prior years 2003 – 2005 and my computer crashed. I have a 2005 floppy disc backup but I can’t get it to open. If I have to rebuild those years, can I buy the software? I can’t find the original program to reinstall it. Help!!!
Hi
Sorry to hear your computer crash and you are trying to get your simply accounting data restored.
First thing – can you pop the floppy into the drive and click on explore and see if the file has a .CAB extension. (CAB is for cabinet files.)
Once you re-install your simply accounting software program back on the computer. From the main menu click on “restore from a backup”. the first screen asks you where the backup is located, point it to the floppy drive and click on the file name. The second question is where you want to re-store the backup, usually on the hard drive C.
I hope that works, if not, you can buy the software and re-create the data again for those years but it’s a lot of work.
You can also get the final Trial Balance report from the person who completed your 2005 business income tax and just put in the opening balances for the bank, accounts payable, receivable etc.
If you have more questions please let me know.
nk
When going into the new year in simply accounting, in order to not get locked out of 2012 accounts, when the program asks us to “close all revenue? and expence account balances into the retained earnings linked account and set the new fiscal years dates? and to “back up data before beginning? yes or no
Thanks
Hi Alisha
At year end I generally make a archive copy of what I have done. Click on file -save as and the file name will be abc company year end march 2012.
Than open your current data you can say yes to all expenses and revenue to be transferred to retained earnings and start your year. You should not be posting anything to your archive copy. If you have year end journal entries to post, stay in your current year and back date the entry to previous year.
Nk
Hi, I have sage simply accounting pro 2011. When I purchased simply My year end was February 28, 2011. I went along and now I am finally finishing my year end for 2012. Because 2012 is a leap year it ends on the 29th instead of the 28th and the program won’t let me use the 29th as my year end. It says that I have to start a new year whenever I try to use the 29th as my year end? How do I fix this? Any ideas?
Hi Alison
Your year end falls on leap year and your year end in set for 28th.
Well, I ran in to this issue myself. I posted everything that was dated 29 th on 28 th. like you I could not change me fiscal end. I, than closed off the year and moved to next fiscal year march 1st.
Nk
I was wondering if there was a way to add a total amount for taxable benefits (for the full year) into an employees pay info so that it prints on their T4? The taxable benefit wasn’t included on the employee’s weekly pay cheques.
Hi Patricia
Yes, there is a way to add taxable income to employees for T4 purpasses. Taxable income is paid out to employees so creat a paycheque and post the total amount in the designated taxable account you would have previously created under the payroll linked accounts. Now you can run the T4.
Nk
Can you change or correct a deposit slip that has already been processed?
Hi JC
Yes, ther are several ways to correct a deposit slip. The easiest way is to bring up a bank report for that time period that the error happened and double click on the source to open up the original entry. Make your correction and process again.
Nk
I am new to Simply Accounting and have SA Pro 2011. I want to show that I started my bank account by depositing $1000 as a shareholder’s loan. How would I do that?
Hi Delmer
You have SA 2011 and you want to post a shareholder loan entry.
You do that in the general ledger screen. The icon should be on your home screen if your setting is classic mode. You can check that by clicking “enhanced mode”, at the top right hand side of the screen,and changing it to “switch to classic mode. Once you are in classic mode the general ledger icon is on your home screen.
Dr. Bank account $1000. And cr. shareholder loan $1000.
Nk
Hi, I use Sage Simply Accounting Premium 2012 and have a question regarding the Reconciliation and Deposits module. .
December Bank Statement has cheque entered incorrectly. It’s $0.30 less than what it should be. Bank corrected error in February.
For Dec. bank rec there is $0.30 discrepancy. When I clicked post it says it will make an adjusting entry so I canceled it and didn’t post it.
Should I post it with discrepancy and it will balance out with February’s bank statement or should I enter the December bank statement ending balance as $0.30 less than what the bank statement actually shows.
Hi Lori
Your trying to reconcile your bank. Post the $.30 discrepancy in December and make the general ledger agree with bank stmt and in February it will balance out.
Nk
Hi,
I am newly hired in a position that was left vacant for some time. I am trying to correct some errors that were made in Simply Accounting. I have several General Journal entries that need to be reversed or corrected.
However, when I try to view these entries by going to the General Journal and looking up the entry, I cannot find them. They do still exist, as I can find them under “reports” and “journal entries” but I cannot make corrections from this report.
My Reconciliation Transactions Details Report shows $310,044.90 in outstanding deposits and $316,680.88 in withdrawals that should not be there, and are the result of incorrect General Journal entries made. Every effort I make to input a correcting entry into the General Journal seems to make it worse.
How do I clear these outstanding entries, if I cannot access them to reverse them and correcting entries do not seem to work?
Thanks for your help,
Betsy
Hi Betsy
Your trying to adjust some entries that was done in error by previous employee.
When you go to the General Ledger and look up the entry make note of the j# and than in the home screen click on Reports-Journal Entries-All. Put the J# in the Start and Finish section and see if the entry shows up. If it does, double click on the J# and the original entry should open. Make the correction and save. If it does not, the entry has already been adjusted.
Keep in mind if you need to adjust a sub-ledger entry, meaning, AP, AR, or payroll you need to adjust through the sub-ledger. Ex, you can’t do a journal entry by debiting or crediting payable, receivable or payroll account. If you do this your sub- ledger ( ap,ar, payroll) balance will not equal the control account ( balance sheet and trial balance)
Nk
I have used simply accounting for over 20 years..i have grown with it currently using simply accounting 12 pro…I have balanced Feb.. continued to do data entry for March and notived today that my chart of accounts is not the same as my balance sheet.. particularly cash on hand and the bank.. if I make an adjusting entry through the general ledger to adjust cash on hand the amount is right in chart of accounts but is not correct in balance sheet.. it seems that these are not linked…what has happened have always been in sync… Thanks for yur time darlene
Hi Darlene
Your chart of account is not matching balance sheet. I am stumped. I think maybe your linked accounts are affected.
If you click on setup-settings and on left side choose General- Linked accounts. This should be linked with the Retained Earnings account. Next pick payable and than receivables and so on. Make sure all the linked accounts is what it should be.
Or it could be the file your in. Make sure you are working in the right set of data. And another varification is to check the journal number sequence. Click on reports – Journal entries – all. Check to see if you are at the right journal number.
Nk
Hi, we have a habit of allocating staff’s hour to different projects when doing payroll. I just found out we have been allocating staff’s hour to an incorrect project last month. Now, the payroll is done and processed. Is there anyway to adjust the project?
Hi Danny
The payroll is posted to the wrong project and need to be corrected.
You have to adjust each paycheque by clicking on paycheques in the home screen.
At the top of screen click on paycheques – adjust paycheques.
Make sure the start and finish date reflects the payroll session you need to adjust. You can adjust each employee or select all employees. Choose each individual employee and adjust the project and process .
It could be a lot of work if you have many employees. Let me know how it went.
Nk
We have a customer in BC which needs to be charged for PST of 7% according to new provincial rules. How can I set up another sales tax (they already pay GST) on their invoices? The PST for BC that I was able to set up replaces GST. Another words I can only pick one sales tax account at a time. I cannot combine them since they get remitted to different agencies. We are using Simply 2008. Please help.Thanks
Hi mal
You want to set up PST to charge BC customers.
First, You need to creat a PST Payable account in the chart of accounts. In home screen click on chart of accounts-file-creat. In the current liability section, 2000 series account, creat your account number and the description should be PST Payable and The account Type should be general. Save and close.
You should be back at home screen. Click on setup-settings-company-sales tax-taxes.
In the tax colum type PST and in the account to track tax on purchases and sales columns choose the PST Payable account you just created.
Next step- click on tax codes on left side of screen. In the code colum type PG and in the description type PST and GST on sales and in use in colum drop down menu or double click and choose sales.
Last step, double click in PG you just typed in the code colum. In tax colum type PST , rate colum type 7, included in price choose No and is refundable choose Yes.
Second line, in tax colum choose GST , in rate colum type 5 , included in price choose No and is refundable choose Yes.
Let me know how it went.
Nk
I have been given the year end entries from the accountant and cannot post to some of the accounts…namely Accounts Receivable, Payroll Advances, Cash Draws and Cash Receipts…this is my first year at the company but apparently there were issues last year and they just created new accounts to total things out (eg. Cash Draws – b, Payroll Advances – b). The Accountant now wants these accounts merged….where do I start? Main accounts don’t show up as choice on General Journal and does not allow me to make the changes.
Hi Melodi
Your accountant wants you to merg accounts together.
Your fist question. Entering year end journals . You can not access accounts payable, receivable, payroll or inventory accounts through a general journal entry. If the accountants wants you to affect payables, you need to use the purchase journal to do that.
Your accountant wants you to total amounts out due to the new accounts created. Find out the total in the account that needs to be zeroed out and do a general gournal entry to credit or debit (which ever one is needed) and debit or credit the new account. Once again, if these entries are sub-ledger related, ex: payables, receivables, payroll or inventory, you need to use that modual not the general journal.
Nk
Why do some accounts not show up as options when I am trying to make a general journal entry? The account numbers simply do not show up and when entered manually bounces me back to the account listing minus the accounts that appear “locked”…these are cash receipts, payroll advances, and accounts receivable.
Hi Melodi
Some accounts are locking up and you can’t access them.
These accounts are linked accounts. If you click on setup-settings-payroll-linked accounts. You will see those accounts as being linked.
Some linked accounts are not accessible through a gernal entry.
Nk
In Setting up books on Simply Accounting and am trying to figure out how to set
up a loan that I have received from the former owner which was part of the purchase price. I just need to know what type of entry must be made. Thank you
Hi Nril
You want to set up loan on simply accounting.
First-in the 1000 asset series number in the chart of account creat an account to enter the asset purchase.
Second-in the 2000 series numbers in the chart of accounts creat an account to track the liability.
Now you can debit the asset and credit the liability account. This can be done in the general gournal section.
Nk
Bank reconciliation – I hit post instead of save for the january bank rec. I now have an outstanding balance the I cannot seem to fix. Is there a way I can go in and fix this other than opening a new bank account and re entering all the entries
Hi Judy
You can open the bank rec again and continue your rec.
Nk
How do i create payroll history. When i created a new employee and filled the hourly rate and teh number of hours for a new employee it is asking for payroll history update. i am not sure how to complete this info
Hi Pat
If this is a New employee hired in your company, there is no history. If your payroll system is changing and it’s in the middle of the colander year, than yes, you need to get history from your previous payroll program and update CPP,ei,tax, gross payroll and any vacation owed.
Nk
Hi, am trying to add a deduction for payroll, the employee requested additional tax be taken off. I can’t use the caculate tax button, is this why i can’t bring up the deduction on his paystub?
i need it to show up on his paystub, so he knows i’m taking off the assitional taxes. Please help me. thank you
Hi Rita
Your trying to set up additional taxes for an employee.
Right now you have linked the tax payable account to track how much payroll tax you have to pay.
The same account can not be used to set up deduction for additional taxes.
If you want the taxes to show up separately on employees pay stub you have to creat an account and call it “Additional Taxes” in the chart of accounts in the liability section of the chart of accounts.
Otherwise in the employee set under taxes tab there is a section to record additional taxes but the amount will be added to his regular tax deduction from his paycheque.
Nk