How to Edit and Delete Transactions on Sage 50?

Updated On: November 6, 2024 10:15 am

There are certain times and situations when a user might come across the requirement to Edit and Delete Transactions on Sage 50. The feature is important as it helps you make the required changes on a certain receipt when serving a specific customer or dealing with a specific product. This action might be used either in the payment process of an account or even an invoice receipt. Also, you must apply to Edit and Delete Transactions on Sage 50 when trying to process a refund. One main aspect governing this feature is whether the transaction has been ‘bank reconciled’ or not. So, let us get into how to Edit and Delete Transactions on Sage 50:

How to Edit a Transactions on Sage 50?

There are many ways to edit a record or transaction within Sage 50. Some of the most basic methods are listed below.

To edit records

The following are two basic methods for editing maintenance records, for instance, customers, vendors, employees, and accounts; in Sage 50:

• Once a maintenance window is open, enter the record ID in the first field. 
• To search through a list of records, select the Lookup option (a magnifying glass) to see a list of records. 
• Both these methods display the record details within the maintenance window where you can review data and make changes when required. 
• Next, click Save to record the changes.
• If entering transactions that use record IDs, select the lookup button; a magnifying glass to check a list of records. 
• Now, select a record in the lookup list. After this, select the Edit button to open the record’s maintenance window, 
• It is here that you can update the information.

To edit transactions

• From most task windows, the user can open and edit the previously entered transactions by selecting the List option. Here, Sage 50 displays the corresponding list. Now one can either double-click a certain transaction or highlight it and select Open to launch the original transaction within the task window. Now, it is possible to view the details and edit them, if required.
• For Events and Tickets, select Open. 
• Next, highlight the ticket or event that you wish to edit.
• Click OK.
• Now, it is easy to view the details and edit the ticket or event.

• In the case of some Sage 50 windows that list transactions, for instance, Collection Manager, Cash Flow Manager, and Payment Manager; it is possible to select the Detail option to display and edit a transaction.
• The user can display and edit transaction details in specific reports. 
• Double-clicking a transaction listed within a report displays the original transaction in its task window. This is known as “drilling down.” 
• One can easily modify the transaction when allowed, save or post the new transaction, and return to the report window. 
• This feature is quite useful if it is required to display or edit details for a filtered group of transactions.

How to Delete Record or Transactions on Sage 50?

To Delete a transaction you need to follow the below steps:

• Go to the Banking page. 
• Select the bank account. 
• Go to the Activity tab. 
• Select the checkbox to the left of the transaction to delete 
• Click the Delete button on the toolbar. 
• Confirm the deletion

NOTE: Bear in mind that it is not possible to delete a transaction that has been included within the VAT return. One can also edit and delete the transactions in batches while keeping in mind the following restrictions:

• It is only possible to edit transactions in batches that are open or printed.
• When a batch is ready to post, the user must turn off that selection before editing.
• The user can not edit payment transactions for which they have printed checks. Likewise, it is possible to delete the transaction to void the check.

Also Read: Sage 50 Payroll Email Payslips

Why is it Not Possible to Delete or Amend a Transactions?

Once you correct a transaction, there are specific restrictions that apply to the corrections that you can make. Certain transactions cannot be deleted or amended.

If a transaction cannot be edited or deleted, you will encounter an error message like: “You can’t edit this transaction as it has an associated payment or refund”.

NOTE: For any transaction that you are unable to delete or amend, then you must reverse and repost them correctly instead.

Solution:

Automatic transactions	For example, transactions are created using the Write Off, Refunds, and Returns Wizard. This is because the reference on this type of transaction indicates that it has been generated automatically. When you edit the transaction, you need to delete the reference and save the changes and you can then delete the transaction. The Month To Date (MTD) and Year To Date (YTD) of the Customer Record may be impacted when transactions are edited or deleted.
Journal entries	It is also possible to edit and delete journals. You were unable to delete or amend journals posted in v21 or below.
CIS v1 only	Transactions that are reconciled within the CIS module. To check if a transaction has been CIS reconciled, click on Transactions select the relevant transaction then check the CIS column. When there is a Y in this column the transaction has been CIS reconciled. In case the CIS column does not appear, right-click another column heading and then select CIS.
VAT reconciled transactions	Although you are unable to delete VAT-reconciled transactions, you can still reverse them which cancels the effects of the original transaction. VAT Cash Accounting – allocated VAT reconciled transactions need to be reversed manually by posting the opposite transaction to the original. e.g. Post a bank receipt with the same information as the original bank payment if the transaction involves a bank payment.
Foreign transactions	It is possible to only edit the Reference, Description, Bank reconciles, and Exchange rate fields. When you need to edit any other fields, you should delete and re-enter the transaction.
Journals involving foreign currency bank accounts	The user can not edit or amend any fields for journals affecting foreign currency bank accounts. In this case you need to reverse the journal and repost the correct details.
Postponed accounting transactions	Once you post a supplier invoice with a postponed accounting tax code, a purchase credit for the postponed VAT amount is automatically posted and allocated to the invoice. Once these transactions are created, you can not edit or delete them. One needs to manually reverse the transactions instead.
Payment request made from GoCardless	As it is not possible to delete the invoice, you will need to reverse the transaction by posting a batch credit, then allocate this to the customer invoice.

Also Read: Sage 50 2025 download

Conclusion!

So, there you have it friends, these are some of the steps and features related to Edit and Delete Transactions on Sage 50. Stay tuned to this space for the latest on the topic and be sure to share with us your thoughts on this article.

To Connect With US:

You need to connect with us if you are looking for wide detail on the how to edit or delete the transaction. You can reach us via any mode of communication like our Toll-Free Number 1800 964 3096, our Official Email Address [email protected] or our Sage Live Chat Support Feature which is available on our website www.accountingadvice.co. Once you connect with us, our team will assist you in providing all necessary detail as per your requirement.

Frequently Asked Questions (FAQs):