I'm doing some basic accounts for someone and they use Sageone Accounts. Some of the dividend payments have been erroneously entered as 'Owner drawings' which shows under Equity on the balance sheet, rather than 'Dividend Approved' on the P&L.
I cannot for the life of me find a way to reverse this. There appears to be no journal function as in Sage 50, nor does there seem to be a way of removing assets from the balance sheet.
Can anybody help? Any help would be gratefully received.
Hi Duncan
Understand it's only available in the Accountants version. .....presumably to stop clients who don't know what they are doing making a mess! But ridiculous for everyone else!!!
Could you adjust through say an 'adjustments bank' account with payment/receipt to move them out of the wrong/ move to the correct nominals.
Or consider getting the Accountants version.....although I've heard ( from an earlier post on here) that it costs even if you are already a member of the accountants club.
__________________
Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
I've been in touch with Sage who confirmed that you can't move items from the balance sheet to P&L. They are going to upgrade it to Sageone Accounting which, apparently, you can journal items in.
Hi Duncan Understand it's only available in the Accountants version. .....presumably to stop clients who don't know what they are doing making a mess! But ridiculous for everyone else!!!
Could you adjust through say an 'adjustments bank' account with payment/receipt to move them out of the wrong/ move to the correct nominals.
Or consider getting the Accountants version.....although I've heard ( from an earlier post on here) that it costs even if you are already a member of the accountants club.
Hi just to correct anything you have heard or misread. If you are an Accountant, Bookkeeper or Online member of Sage Accountant Division you get the Account Edition with this, also Final Accounts online, Corp tax online, personal tax online, Sage Match, and Sage Impact with more coming.
The end user software Sage One Accounts has been discontinued so client and customers can upgrade FOC to Sage One Accounting for £10 pm which was the same price as accounts.
