Steps for Repair Sage 50 GL Account type

How To Repair Sage 50 GL Account Type

What is the General Ledger in Sage 50?

The General Ledger is the feature where the user gets to create and maintain accounts, journals, and financial reports. This way, the customer can use the General Ledger to post journal entries, design and run reports, create budgets, and a lot more.

Steps when Repairing an inappropriately changed GL Account Type in Sage 50

Once you embark on repairing an inappropriately changed GL Account type, it is important to back up before beginning any repair process for Sage 50.

Repairing Sage 50: This is to repair Sage 50 issues caused by changing a GL account type from an account that rolls into retained earnings to the one that does not or vice-versa, once the account has historical data in closed years. In case there is not a lot of historical transaction data, an attempt, nevertheless can be made to recalculate the accumulators that are being used in reporting for the GL and financial statements.

  • Start by printing samples of the incorrect reports.
  • Backup your Sage 50 company data files
  • Change to fiscal period 1 (FP1) this offers special properties to utility we will run to change things within the previous periods.
  • Go to Help-Support Utilities->Integrity Check.
  • Within the Data Synchronization Section, you need to run the Chart of Accounts / Journal test.

Sage 50 Multiple Accounts

Here, you need to note that if multiple accounts have issues, then this test might need to be run various times. For this, It should pop up to say that a footing error was corrected within such&such an account in period ‘whatever’. From here, you need to keep running the test until no messages are to be displayed.

However, before running Synchronization tests, you need to re-index the tables that are being corrected, as this is often appropriate. In such a case, the files would be; Chart; Jrnl Header & Jrnl Rows. Also, bear in mind that re-indexing should always be done on File at a time.

  • Reprint the same list of reports that have been created in Step 1
  • Next, audit the results against the before reports printed.
  • If things are not fixed or worse, restore immediately before performing any other step.

Sage 50 Repair is Complete

After you have completed the audit of Sage 50 and confirmed that the data has been corrected and your problem and the GL trial balance are in balance, then you are good to go. This means that the debits and credits at the end of the current period Sage 50 general ledger trial balance are the same balance.

  • Create a backup if you have reviewed the reports in detail they are error-free and you are not receiving any errors within Sage 50 when recording transactions.

Sage 50 Repair Last Steps

  • After the above, you need to change the account type for the affected gl account(s) back to their original settings and run the chart/journal sync test again in FP1 until no messages are displayed.
  • Now, confirm that the GL trial balance is in balance for all open periods and that the ending balance for retained earnings within the last closed period modified by the net earnings for that year matches with the beginning balance in the first open period on the general ledger report.
  • Next, you need to set up a new account with the correct account type. Either edit all transactions in all open periods to the new account or make a journal entry in order to shift the full balance of the bad account over to the new one at the end of each open year. It should have a zero balance at the end of each open accounting year.
  • Next, be sure to set the bad account to inactive. Likewise, you can also rename the ID for the old/bad account and then rename the ID for the new account to be the same as the old one using the change button.

Sage Support

Be sure to make frequent backups and be sure to capture a screenshot incase you receive any additional errors in Sage 50. For Sage 50 technical assistance you can reach out at 800-964-3096.

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