Anyone using Sage Line 50?

Redsoxfan

And if so, is it possible to post reversing journals?

Cheers.

MartMax

don't quite understand your question but just guessing here. can you not post another journal, the opposite of original journal so it'd have reversal effect? alternatively, u could delete transactions as you wish but the audit trails would remain there.

Marty

Siogfinsceal

Hi, yes it is. If you go into the financials or nominal module i think there should be a button for 'reversing journals' similar to the one for prepayments and accruals. I think you only get this function in the accountant plus and financial controller section of the software. If you are using a lower version I think you have to do it manually

smcgiff

mart_max wrote: »

don't quite understand your question but just guessing here. can you not post another journal, the opposite of original journal so it'd have reversal effect? alternatively, u could delete transactions as you wish but the audit trails would remain there.

Marty

Marty,

A reversing journal is where you post it one month and it's set up to reverse in another month - usually the next month. It's used for accruals etc. Bit messy in that you've to keep posting it until, say, it's corresponding invoice gets posted. Used more in big companies I'd say.

Redsoxfan

Siogfinsceal wrote: »

Hi, yes it is. If you go into the financials or nominal module i think there should be a button for 'reversing journals' similar to the one for prepayments and accruals. I think you only get this function in the accountant plus and financial controller section of the software. If you are using a lower version I think you have to do it manually

Thanks will have a look-I haven't seen any of the buttons/options you have described, but not long using Sage. I have the 'financial controller' version AFAIK, so hopefully it should be possible as at the moment month-end is a right pain in the a$$. I inherited the systems in the company where I work and the previous accountant doesn't seem to have done a good job sharing knowledge.

Redsoxfan

smcgiff wrote: »

Marty,

A reversing journal is where you post it one month and it's set up to reverse in another month - usually the next month. It's used for accruals etc. Bit messy in that you've to keep posting it until, say, it's corresponding invoice gets posted. Used more in big companies I'd say.

Spot on-although I wouldn't categorise my company as 'big'.

Siogfinsceal

no problem I have used it a lot. In the latest versions of financial controller the 'reversals' button is in the nominal section of it

Redsoxfan

Was it missing in earlier versions?

Siogfinsceal

Not sure. Ive not seen many of the older versions