Hi Maggie
When you do the bank transfer part the screen gives you the option to key the rate used by the Bank. Use the 5 or so decimal points or more to get the exact transfer value- any bank notification will show it in full.

Sage will then ask you if you wish to change all rates for that currency at the same time. I generally opt for no (as you can then do re-valuations of base currencies in line with company policy, I usually do monthly as this is then aligned for your management accounts.

HTH

Shout if you need screen grabs

-- Edited by Cheshire on Sunday 11th of December 2016 10:10:45 PM

Hi again Sorry been with clients all day and still not home!! I'm assuming your sage is 2015 of before (sorry I can't recall which one!) in which case no the delete option is not available for journals. It is from 2016 onwards That you can delete journals. So only way is to transfer back to reverse the original entries but you will need to do so at the rate used the first time. Quote reversal in the reference/explain why in the details box. Can you see the original rate used? If not work it back. Back up before you key it, then at least if you use the wrong rate or do if the wrong way (or maybe that's just a stoooopid thing I do when I'm half asleep) then at leasf you can restore and try again. HTH

-- Edited by Cheshire on Monday 12th of December 2016 09:57:00 PM

Hi. Thanks for the reply. I did try a journal reversal but got scared and backed out. Not sure what exchange rate went through as I thought I changed it to the one in purchased the currency at. Should I use the figures that are coming up on the bank rec for the different accounts?

Good morning Maggie
Can tell your are a true pro......up far too early, or far too late

On the version- no updates will be done unless they pay for them as as Sage is ultra expensive, especially at Pro level or with foreign trader then most companies don't bother as generally it's paying a lot for a few tweaks that are not worth it. The one with the ability to delete journals (which is good) has its drawbacks (calc net option in a ridiculously stupid place which slows down keying time considerably being one). Most clients will get as many years out of the sage then buy as they can until generally it falls over or is getting close to that stage. The good thing about it is that there are always workarounds.

On the 'deletion' front I feel I must say this, and it may be something you are aware of, so apologies if you do, but it's for other readers on here too, I would generally suggest you don't use the deletion option, unless the item has NOT been bank/VAT reconciled, because it can play havoc with prior returns, bank decs and indeed year ends. Again the are ways round this, so if you get something that has been reconciled etc then bob it on her and we can advise the workaround.

Re the wrong transfer, let me have a quick look at my sage to see where I can pick the rate up from, as I'm not in front of it just now. But in the meantime (when you get to work) can you please do me a quick screen print of the journals from the transaction or corrections option. Make sure I don't get any company identifying features.

Also, whilst her, can you tell me how often you do a back up, plus if it's a networked version of sage at this particular company, or indeed if anyone else does any keying.

Thanks hon

Hi Maggie
Ok, thanks for that. Just a word about the server - how often do they change the back up tapes or whatever they use and do they tape over them. I only ask as I picked up a client last year and their sage was in a right old pickle (and pretty blinkin ancient - was 2006 version or some such). Anyway after wading through treacle I thought the easiest, quickest and frankly cheapest method for them would be for me to restore a back up from 4 months prior and me to re-key everything properly. They told me they did backups to their server every day so I thought - great, simple, sorted. Oh nooooooo - they only had 5 tapes so they backed up over the previous backup each time they did one - so I could only go back 5 days. So its cost them quite a lot for me to sort out the unholy mess.

So - worth checking that one out. Also to protect yourself, given you would have to sort out any potential mess, I would get a couple of memory sticks and back up daily at the end of the day to both of those memory sticks as well. You then at least have a back up if one of the sticks fails. Make sure you are backing up from the main 'control' sage (which I am assuming is yours).

Also - now you may have to 'annoy' the other person using sage occasionally. Do backups during the day, BEFORE you try anything new or anything you are not sure about on sage. That way you can check what you have done (that it sits in all the relevant accounts/nominals and looks right before you continue) and do a restore if you make a 'mess'. When I say annoy - its because they will have to log off before you can do a backup! Tough as its important (is my view!)

If they dont mind you downloading Dropbox (including its T&Cs etc) then you could also save a backup to here, as another option. I always do a backup as I go along - having lost data which is annoying. Label the backups so you know what they are (date stamp, time stamp may be enough but I also add things like 'pre VAT return dated, Post VAT return dated etc, you get the drift).

Now on to sorting that transfer. Remember once done you will have two extra entries that will cancel each other out for when you come to do your rec.

Do your back up.

Search for the information to assist you in getting the correct currency rate used on the original transfer.

A couple of ways, easiest is through the File--> Transaction screen if you have it, although (sorry cannot recall) it might need to be through File-->maintenance-->Corrections screen (to use the corrections screen your invoicing person will also need to be logged off!)

Ive enclosed a copy of the transactions screen - you can see form the very far right the rate used. (scroll across)



So do the opposing journals and key this rate in.

if this is not showing you can get the rate manually.  Go to the Bank activity screens of each Bank connected with the transfer and find the sage reference for the item and note the amounts involved.   Ive done a couple of screen shots so you can see.....

So 27000/23573.21  = rate of 1.1453679 (round up to 1.145368 - agrees with the first screen shot)

Other way is to get the sage system rate used - go to the euro (or whatever currency) account and across the top (usually) just right of the activity option is the 'revaluations' option - this will show all the revaluations completed  - you will need the rate for the date of the transfer.

I would suggest manual method might be the best if you are unsure looking at the rest.

Do the reverse transfer and check the amounts agree to the first one.  If not - do a restore and start again.

One other option open to you  - do you know about the practice data screen?  Might be worth setting up the 'error' transfer in there.  Then having a go in there to correct it and keep an eye out on your nominals/bank rec options at each stage. Great way to learn.  If you cannot see the practice option - let me know and I can talk through how to get it. 

Hope that helps.  Looks long and involved - in truth it really isnt.  Plus remember next time, you will have it sorted in seconds.

HTH