How to Delete Transactions on Sage 50?

Sage 50 is a premier accounting software that helps businesses and professionals perform their accounting tasks in a more efficient manner. No prizes for guessing why it is quite popular all over the world. It is also appreciated for its user-friendly interface and useful features. However, there are some features that the users may find difficult at times. Deleting transactions is one such feature incorporated in Sage 50. Users may need to delete transactions owing to various reasons. However, any inadvertent errors made in the process may do more harm than good. Therefore, before trying to delete any transactions in Sage 50, we would recommend you gain complete knowledge of the process. Also, you should create a proper backup before proceeding to delete transactions.

You do not need to worry though! In this blog, we would be talking about how to delete transactions in Sage 50 and other associated matters. You simply need to flip through this blog till the very end.

Here we go!

Read More -: How to Edit and delete transaction on Sage

Things to Consider Before Proceeding to Delete Transactions in Sage 50:

You should take care of the following to avoid any future issues-

• Please ensure to take a proper backup of your business data
• No work should be permitted in the work orders included in the Sage Batch Controller
• The delivery notes visible in the Sage controller should be updated to invoicing.

Also please note the following before deleting any transaction in the Edit Register

• You can delete a transaction using Cash Management only when it is posted in the Cash Management.
• after deleting the transaction, the original accounting date can be used to reverse the entry
• Avoid deleting Reconciled /Cleared Transaction as much as possible.
• If you have entered any transaction through the Setup Assistant Process and the transaction is deleted, no reverse entry would be sent to the General ledger
• If you delete the bank transfer, both sides of the transfer will get deleted with the relevant bank account.

Also Read-: How to Delete Payment from Account Register in Sage 50

Steps for Delete Transactions on Sage 50:

Please follow the steps below-

• Navigate to the Task Menu
• Click on Edit Register
• Now, click to select the relevant bank account
• Click Ok to proceed
• Now, to delete a transaction, locate it in the row that is matching with the transaction
• Click to select the transaction to delete
• You will see a black arrow for this transaction
• Right-click on it
• Now click on the tab named Delete Row
• A prompt will pop up. Click yes to delete

Please Note: If any journal entry is earmarked as Bank Transfer, make sure to delete the other side of the transfer from the bank account.

• Select Finish
• Click on the Start Button to print the journal or to save it as a file
• You can post the reversing entries in Cash Management, with the General Ledger
• Once the entries are deleted, you may need to delete the bank balances as well

How to Delete a Transaction in a Closed Year With Peachtree

With In Sage 50 Accounting, which was previously known as Peachtree Accounting or Peachtree Complete, the user can delete any transaction within a year that they have not closed. But, once the user has closed a year, you cannot delete any transactions from that year. Instead, you need to make a correcting journal entry within the current year and adjust the current year’s opening retained earnings balance as well.

• Start by Launching Sage 50 and sign in to your system database.
• Now, choose “Tasks,” 
• Next, click “General Journal Entry.” 
• Next, Select the general ledger account that needs to be adjusted.
• Next type a description for the adjustment.
• Now, enter the amount as either a debit or credit, according to the adjustment. For instance, if a $5,000 marketing expense was recorded in December of a year that’s closed and you need to reverse it, credit the marketing expense account for $5,000.
• Now choose the “Retained Earnings” account.
• Next, enter the same or a similar description, and then enter the same amount as a debit if you’ve entered a credit on the line above, or a credit if you’ve entered a debit on the line above — for example, debit retained earnings for $5,000.
• Click Select “Save,” 
• Now click “Close.”

Need Experts Help-: Transactions Missing from Account Reconciliation in Sage 50

Our Assistance:

We hope , after going through the blog, you have received a fair idea of how to delete transactions in Sage 50 and what precautions to take before starting the deletion process. You can now run your Sage software and proceed to delete any transaction, as and when you need. If you are stuck at any point, you may contact our experienced team at any time. We would be more than happy to clear all your doubts and answer all your queries related to the Sage 50 application.

Frequently Asked Questions(FAQs)