Essential Tasks

There are two types of customer transactions available in the Money In section of the Home window.

Makes Sales

Bill your customers for goods shipped or received at the time of sale, and for services provided.

Receive Customer Payments

Enter payments you receive from your customers, and apply the payment to one or more unpaid invoices.

When you record a sale, Sage 50 Accounting keeps track of the goods and services sold and updates the customer’s record.

To create an invoice: In the Home window, in the Money In section, click the Make Sales icon, and then complete the following steps.

1. Select a customer. Sage 50 Accounting will auto-fill the Sold to, Ship to, Comments, and Terms fields with the data from the customer’s record.
2. Select items from your price list, or enter details about the items you are selling.
3. Print or email the invoice.
4. Click Process to record the transaction, and update account balances and the customer’s record.

To record a payment from a customer: In the Home window, in the Money In section, click the Receive Customer Payments icon, and then complete the following steps.

1. Select a customer.
2. Select the payment method, and the account to which you will deposit the payment. If the customer is paying by cheque, enter the cheque number.
3. Ensure the date of receipt is correct. By default, the current session date is used.
4. Select the invoice to which the payment should be applied. Sage 50 Accounting automatically calculates the eligible discount based on the payment terms you entered.
5. Click Process to record the transaction and update account balances and the customer’s record.

There are four types of supplier transactions you can perform in the Home window.

Record Purchases

Available in the Banking and Other Activities section. Enter bills from suppliers for items or services you have purchased and will pay for at a later date.

Pay for Purchases

Available in the Banking and Other Activities section. Enter a payment to a supplier and apply the payment to one or more unpaid bills.

Pay Bills

Available in the Money Out section. Record an expense and the method of payment.

Pay Credit Card Bills

Available in the Money Out section. Enter payments (for example, write a cheque) to your credit card company for business expenses.

If you do not need to use Sage 50 Accounting to keep track of and remind you about your unpaid bills, you can simplify your record keeping by entering only your expenses. In fact, all businesses have miscellaneous day-to-day expenses that can be recorded this way. For information on entering and paying a bill, search for Entering a purchase invoice.

To enter an expense: In the Home window, in the Money Out section, click the Pay Bills icon, and then complete the following steps.

1. Select a supplier.
2. Select a payment method and the account from which the expense is paid. If you are paying by cheque, enter the cheque number.
3. Ensure the date of payment is correct. By default, the current session date is used.
4. Select an account to record the expense, and then enter details about each expense.
5. Click Process to record the transaction and update account balances.