Correcting journal entries in Sage 50 Accounts

One of the simplest ways to correct a journal entry is to reverse the original entry and then re-post it with the right details.  However, there are other options available:

File > Maintenance > Corrections

Non-critical fields can be amended within the Corrections option.  This includes the transaction reference, description and tax code.   

Nominal Ledger > Reversals

The Reversals option is available in the following software:

  • Sage 50 Accounts Plus

  • Sage 50 Accounts Professional

  • Sage 50 Client Manager

  • Sage Line 50 Accountant Plus

  • Sage Line 50 Financial Controller

  • Sage Line 50 Client Manager

This option helps you reverse journals correctly, for example, on the same date as the original journal.  You can search for journals based on the transaction number, date, reference and department.  Once found, select the relevant transactions, click Reverse, and then click Save.

Nominal Ledger > Journals > Reverse Journals

When posting a journal you can select the Reverse Journals check box and enter a reversing date.  When you save the journal, it's automatically reversed on a date specified. 

The Reverse option Journals is available in Sage 50 Accounts 2007 and above.

Note:  If the Reverse Journals check box isn't available in the Nominal Ledger Journals window, go to Settings > Company Preferences > Parameters > Select the Enable Reversing Journals check box > OK.