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SAGE LINE 50 ACCOUNTNATS PLUS (LECTURE 1)- SETTING UP
 

 


SETTING UP SAGE LINE 50

(1)THE CHECKLISTS
 

a.     GETTING TO KNOW SAGE LINE 50 CHECKLISTS
Practice makes perfect!
Start Sage Line 50 for Windows and move around the windows, use the toolbar options and familiarize yourself with the tab, list boxes, option buttons, and the other Windows elements.
You can practice by using dummy data. Then, when you are ready to enter real data, you can use the Rebuild Data Files option to clear this dummy data.
You should familiarize yourself with:

  1. The Sage Line 50 desktop.
  2. The Sage Line 50 toolbar.
  3. Command buttons.
  4. Entering and editing data.
  5. Option buttons and check boxes.
  6. List boxes and scroll bars.
  7. Data entry boxes and tabs.
  8. Function keys.
  9. Selecting and de-selecting records.
  10. Using the Search facility.
  11. The On-line help system.

b.      THE ACTIVE SETUP CHECKLIST
In order to get the most from your Sage Line 50 package we recommend you work through the checklist below.

  1. Get to know Sage Line 50 for Windows.
  2. Check your financial year start date.
  3. Check Sage Line 50 is set up for the correct VAT scheme.
  4. Set up your defaults.
  5. Set up all your customer, supplier and bank records, and make any changes to the Sage Line 50 nominal account structure.
  6. Enter the opening balances for all your customers, suppliers and nominal (including bank) accounts.
  7. (Financial Controller and Accountant Plus) Set up all of your product records.
  8. (Financial Controller and Accountant Plus) Enter the opening balances for all of your products.

c.      SETTINGS CHECKLIST
Sage Line 50 has a number of default company settings. Some of these defaults are set when you run the Start Up Wizard, i.e. your company's name and address etc. Now is the time to change these settings (if necessary), and to check through the rest of your defaults.

  1. Work through each of the options from the Setting menu options until the basic settings in Sage Line 50 are just how you want them.
  2. Company Preferences
  3. Tax Codes
  4. Customer Defaults
  5. Supplier Defaults
  6. (Financial Controller and Accountant Plus only Product D
  7. (Financial Controller and Accountant Plus only)Invoice Defaults
  8. Departments
  9. (Financial Controller and Accountant Plus only)Product Categories
  10. Control Accounts

d.      OPENING BALANCES CHECKLIST

  1. Make sure you are set up for the correct VAT scheme: either the Standard VAT Scheme or VAT Cash Accounting. You should check the VAT Scheme you are using with your accountant. You will also be able to obtain your opening balance figures from your accountant.
  2. Post the opening balances for your customers and suppliers. Note: you can enter your opening balances at the same time as you create your records.
  3. Print and check the opening balances in the following reports: From the Customers module; Aged Debtors Analysis(Detailed) and Customer Activity(Detailed). From the Supplier module; Aged Creditors Analysis (Detailed) and the Supplier Activity (Detailed). From the Financials module prints out the Trial Balance.
  4. Clear the Debtors and Creditors Control and Suspense Account balances using the values from your Trial Balance.
  5. Users on VAT Cash Accounting should also clear their Sales and Purchase Tax Control accounts.
  6. Post your nominal ledger and bank account opening balances.
  7. Reprint your Trial Balance.
  8. Make sure the balance on your Suspense Account is zero.
  9. (Financial Controller and Accountant Plus only) Post the opening balances for your product records.
  10. Run Sage Line 50’s Check Data option.
  11. Take a back up of your data and label it "After Entering Opening Balances".

e.   YOUR VAT RETURN CHECKLIST.

  1. Calculate your Sage Line 50 VAT Return.
  2. Print your VAT Return reports.
  3. Check your Sage Line 50 VAT Return.
  4. Back up your data.
  5. Reconcile your VAT transactions.
  6. Clear your VAT Control Accounts.
  7. Submit your VAT Return to HM Customs & Excise.

f.       MONTH END CHECKLIST

  1. Ensure all transactions have been posted for this period
  2. Make sure you have set up and processed any recurring entries required for this period
  3. Make sure you have set up prepayments and accruals for month end processing
  4. Make sure you have set up depreciation for month end processing
  5. Reconcile all bank accounts to your bank statement using the Bank Reconciliation option
  6. (Financial Controller and Accountant Plus only)Print the following reports: Product History Report, Product Valuation Report, Product Profit Report
  7. Post monthly Product Journals for your Profit and Loss and Balance Sheet
  8. Run Period End, Month End to post prepayments, accruals and depreciation, and to clear your turnover figures
  9. (Financial Controller and Accountant Plus only)Run the Period End, Clear Stock option (optional)
  10. Run the File Maintenance Check option to check your data files
  11. Take a backup and label it ‘Before VAT Analysis’
  12. Print and reconcile the VAT Return Analysis
  13. Print the following reports: Aged Analysis Reports for debtors and creditors, Statements for customers, and banks, Day Books for customers, suppliers, banks and nominal, Activity reports on all ledgers, Audit Trail, Trial Balance
  14. Run the Period End, Clear Audit Trail option (optional)
  15. Print the Profit and Loss and Balance Sheet, Budget and Prior Year Analysis reports if required
  16. Print the Fixed Assets Valuation report if required
  17. Run the File Maintenance Check option to check your data files
  18. Take a backup of your data and label it ‘After Month End’.

g.      YEAR END CHECKLIST

  1. Run your month end procedure, excluding the Clear Audit Trail option.
  2. Make sure your system date is set to your year end date
  3. Process any final adjustments
  4. Run the Year End option
  5. Run the Clear Audit Trail option
  6. Remove any unwanted, redundant customer, supplier, bank and nominal records
  7. (Financial Controller and Accountant Plus only) Remove any unwanted, redundant product records
  8. Compress your data files
  9. Run the File Maintenance Check option to check your data files
  10. Take a back up of your data and label it "After Year End".
  11. Check the Financial Year start date to ensure it is correct.

h.      CHANGE FINANCIAL YEAR CHECKLIST

  • Run the File Maintenance, Check Data option. If you have any errors in your data, these should be fixed before you run the Financial Year Change option.
  • Take a backup of your data.
  • Make a note of the last transaction number on the Audit Trail.
  • Make a note of the balances on your Debtors and Creditors Control Accounts.
  • If you have cleared your audit trail, print out the following reports and store them for future reference:
  • Retrospective Trial Balance report (month-by-month up to the date you cleared your audit trail)
  • Retrospective Profit and Loss (month-by-month up to the date you cleared your audit trail)
  • Retrospective Balance Sheet (month-by-month up to the date you cleared your audit trail)
  • If you have run your Year End you should do one of the following:
  • If you have taken a backup prior to running the year end and you have not entered too many transactions since running the year end, we recommend that you restore the backup and re-enter any transactions.
  • If you do not have a backup of your data or if you have entered a lot of transactions since running the year end, you should reverse the ledger year end journals. Run the Financial Year Change option.
  • Run the File Maintenance, Check Data option. If you have any errors in your data, these should be fixed before you continue to enter further transactions.
  • Take a backup of your data.
  • Check the balance of your Debtors and Creditors Control Accounts to make sure they agree with the balances recorded before you changed your financial year.
  • Note: if the figures are not the same, run Check Data to se if there are any errors. If you cannot find the reason why they do not agree, contact the helpline.
  • Check the last transaction number on the audit trail to make sure it agrees with the transaction number recorded before you ran the financial year change.
  • Note: if the figures are not the same, run Check Data to see if there are any errors. If you cannot find the reason why they do not agree, contact the helpline.

(2) PASSWORDS
 a.     ACCESS RIGHTS
The Access Rights feature lets you set individual passwords for each person who has access to Sage Line 50. You can even restrict which ledgers, menus and windows each user can use, and you can hide your bank and nominal balances from certain users if you wish!

  1. Enter the Access Rights option by choosing the Access Rights option from the Settings menu and the User Access Rights window appears.
  2. Use the User Access Rights window to create a new user, edit a user’s password, delete a user (for example if the user has left the company), copy a user and restrict which options, menus and windows a user has access to.

Note: You can only use the Access Rights option if you have activated Access Rights in the Company Preferences option from the Settings menu.

b.      TO CREATE A NEW USER

  1. Open the Settings menu from the Sage Line 50 menu bar and choose the Access Rights option.
  2. The User Access Rights window appears listing all of the available users.
  3. Choose the New button.
  4. The Create New User window appears.
  5. In the boxes provided, enter the following details:
  6. Logon Name, Password

Indicate the overall access you are giving this new user by selecting one of the Access Rights option buttons. These have the following meanings:

  1. Full Access, No Access
  2. To accept your new user details choose the Save button, or to clear the details and start again choose the Discard button.
  3. To exit the Create New User window choose the Close button.
  4. The New User name now appears in the Users list box on the User Access Rights window.

c.       To Change the User Password

  1. Open the Settings menu from the Sage Line 50 menu bar and choose Change Password.
  2. If you already have a password, the Password Entry window appears asking you to enter your current password here.
  3. The Change Password window appears.
  4. In the New Password box, enter your new password.
  5. In the Confirm New Password box, enter your new password again. You cannot save this password until the entries in the New Password and Confirm New Password are the same.
  6. To save your new password, click OK. To begin entering your new password again, click Discard. To exit without saving, click Cancel

                                                                              
d.      TO EDIT A USER'S PASSWORD
Note: You cannot change the Logon Name here. If you want to change the Logon Name, use the Copy button from the User Access Rights window to create a new user (with the same user details but with a new Logon Name).

  1. Select the user whose password you wish to edit, from the User Access Rights list box.
  2. Choose the Edit button.
  3. The Edit User Details window appears showing the Logon Name, Password and current access rights status.
  4. Enter or edit the Password.
  5. If you wish to change the overall access rights of the user, select one of the Access Rights option buttons.
  6. If you have denied access to some options, a Partial Access option button will be shown. If you now select the Full or No Access option buttons the partial access settings for this user will be re-set.
  7. To accept your new user details choose the OK button. To exit without saving choose the Cancel button.

e.        TO DELETE A USER

  1. Select the user to be deleted from the User’s list box on the User Access Rights window.
  2. Choose the Delete button.
  3. The Delete User window appears asking you to confirm deletion.
  4. If you wish to delete the user access rights choose the Yes button. If you do not wish to delete the user access rights, choose the No button.
  5. You are then returned to the User Access Rights window.

f.       TO COPY A USER'S DETAILS
This option is very useful if you have set up a user with restricted access to certain options and windows, and you wish another user to have access to the same areas of Sage Line 50. By copying these user details to another user you do not have to set up the same option and window restrictions all over again.

  1. From the User’s list on the User Access Rights window, select the user whose access rights details you wish to copy.
  2. Choose the Copy button.
  3. The Copy User window appears.
  4. Enter in the boxes provided the logon and password (if any) of the user you want to give the copied access rights to. The password of the user you are copying appears in the password box automatically, but you can change this if necessary.
  5. To accept your new user details choose the OK button. To exit without saving choose the Cancel button.

g.      TO ASSIGN ACCESS RIGHTS TO OPTIONS

  1. From the User’s list on the User Access Rights window, select the user whose access rights details you wish to assign.
  2. Choose the Details button.
  3. The Access Details list box appears listing all the options and menus in Sage Line 50 that can have access rights attached. The User’s current access status for each option is also shown as full, partial or none.
  4. To change the access status of any of the options, choose the Options button.
  5. The Option List window appears.
  6. Select each option you want to change from the list box, then indicate whether the access to be given is full or no access, by selecting the appropriate button.
  7. Use the Swap and Clear buttons to highlight the options you require.
  8. To accept your new user details choose the OK button, or to clear the details and start again choose the Discard button. To exit without saving, choose the Close button.
  9. Note: Double-click on an option icon from the Access Details list box to see the windows that the selected user can currently access.

h.      TO CHANGE THE ACCESS RIGHTS FOR WINDOWS

  1. From the User’s list on the User Access Rights window, select the user whose access rights you wish to change.
  2. Choose the Details option.
  3. The Access Details window appears.
  4. Select the option you require then choose the Dialogs button. The Dialogs window appears listing all of the modules that belong to the option selected and showing their current access status. To see the modules that the user can currently access for an option, double click on the required option icon from the Access Details window (or highlight with the arrow keys then press the SPACEBAR). The Access Details list expands to show the access rights status of each module.
  5. Change the access rights for the windows listed, by selecting the module(s) you require, then selecting either the Full Access or No Access option button. Use the Swap and Clear buttons to highlight the windows you require.
  6. To accept your new user details choose the OK button, or to clear the details and start again choose the Discard button. To exit without saving, choose the Close button. To view the modules you have just set up, double-click on the option icon in the Access Details window.

h.      TO LOG OFF
Note: If you are not using the Access Rights option, the Log Off option is not available.

  1. Open the File menu on the Sage Line 50 menu bar.
  2. Choose the Log Off option.

The main logon screen appears ready for the next user to log

(3) SETTINGS
(i)          COMPANY PREFERENCE
a.      To Edit Or View Your Company Preferences

  1. Open the Settings menu from the Sage Line 50 menu bar.
  2. Choose the Company Preferences option.
  3. The Company Preferences window appears.
  4. Edit your company name and address, if necessary. You can also add your company’s telephone and fax numbers.
  5. Enter your company’s VAT registration number in the text box provided.
  6. If you wish to print these company details on your stationery layouts, leave the Print Name and Address on Stationery check box selected.
  7. If you use pre-printed stationery that already has your company name and address, de-select this check box to remove these details from your layouts.
  8. You have now completed the entries on the Address tab.
  9. To save any changes and exit, choose the OK button, or to exit without saving, choose the Cancel button.

b.      TO ENTER THE DETAILS FOR YOUR TEXT LABELS

  1. Choose the Labels tab from the Company Preferences window.
  2. The Labels tab appears showing the address text labels that appear on the Customer Record Details tab, the Supplier Record Details tab, the Supplier Record Bank tab, and the Bank Record Details tab. These address text labels also appear on the Customer and Supplier List Criteria windows.
  3. This window also shows the label prompts that appear alongside the analysis boxes on the Customer and Supplier Record Defaults tabs.
  4. You can edit any of the details shown as follows:
  5. Address Lines 1-5
  6. Customer Custom Fields, Supplier Custom Fields Product Custom Fields
  7. To save any changes and exit, choose the OK button, or to exit without saving, choose the Cancel button.

c.       TO ENTER YOUR COMPANY PREFERENCES (THE PARAMETERS TAB)

  • Choose the Parameter tab from the Company Preferences window.
  • The Parameter tab details appear.
  • Use the check boxes to activate the listed parameter defaults.
  • Enter the following information to change the printing options for your Company Preferences:
  • Print End of Report Banner, Chq. Lines per page(Financial Controller and Accountant Plus Only), Print Address on Stationery and Use Data for Reports.
  • Select the following checkboxes and select the appropriate information to change the Company Preferences VAT Defaults options:
  • Item VAT Amendable, VAT Cash Accounting, Non-vatable Tax Code,
  • Select the following checkboxes to change the Company Preferences Others options:
  • Access Rights, No Warning on Visa Receipts, Exclude Deleted Transactions, No Recurring Entries at Startup, Copy Skeleton Journal Values, Display Account Status, List PP/SR by Split, Allow Negative Stock, Time slips Link, Group Items on the Bank Rec, Display Active Search Popup and Enable E-Banking.
  • Enter a default call charge rate here to calculate the Company Preferences Call Charges:
  • Default Call Charge Rate
  • To save any changes and exit, choose the OK button, or to exit without saving, choose the Cancel button.

(4) CUSTOMERS DEFAULT
A.      TO SET UP YOUR CUSTOMER RECORD DEFAULTS

  1. Open the Settings menu from the Sage Line 50 menu bar and choose Customer Defaults.
  2. The Customer Defaults window appears.
  3. In the Record tab, enter the following customer default details.
  4. Credit Limit, Payment Due Days, Sett. Discount, Sett. Due, Terms,
  5. Department, Std. Tax Code, Default N/C, Currency,
  6. Price List, Type, Disc % and
  7. Default
  8. To save your Customer Defaults and exit, click OK, or to exit without saving, click Cancel.
  9. The defaults you have entered here will be entered automatically in each new customer record you create. Customer records that already exist will not be affected by these new defaults.

B.      TO SET UP YOUR CUSTOMER STATEMENT DEFAULTS

  1. From the Customer Default window, click the Statements tab.
  2. The Statements information appears.
  3. In the boxes provided, enter the customer statement defaults as described below:
  4. Invoices, Credits, Discounts, Payments
  5. To save your entries and exit click OK, or to exit without saving, click Cancel.

C.      TO SET UP YOUR CUSTOMERS’ AGED BALANCE DEFAULTS

  1. From the Customer Defaults window, click the Ageing tab.
  2. The Ageing information appears.
  3. In the boxes provided, enter the customer aged balance details as described below:
  4. Include Future Totals in Balance, Use Calendar Monthly Ageing, Periods
  5. To save your entries and exit click OK, or to exit without saving, click Cancel.

d.      TO ENTER YOUR INVOICE DISCOUNT STRUCTURE

  1.        Choose the Discount tab from the Customer Defaults window. The Discounts tab appears.
  2. Each line of this table lets you apply a different level of discount.
  3.        Enter the customer discount details for each level of discount as follows:
  4. Invoice Value, Discount %
  5.        To save your entries and exit click OK, or to exit without saving, click Cancel.

(5) SUPPLIER DEFAULT
a.      TO SET UP YOUR SUPPLIER RECORD DEFAULTS

  1. Open the Settings menu from the Sage Line 50 menu bar and choose Supplier Defaults.
  2. The Supplier Defaults window appears.
  3. In the boxes provided, enter the following supplier details:
  4. Credit Limit, Payment Due Days, Sett. Discount, Sett. Due, Terms,
  5. Department, Std. Tax Code, Default N/C, Currency
  6. Default
  7. To save your supplier defaults and exit, click OK, or to exit without saving, click Cancel.
  8. The defaults you have entered here will be entered automatically in each new supplier record you create. Supplier records that already exist will not be affected by these new defaults.

b.      TO SET UP YOUR SUPPLIERS’ AGED BALANCE DEFAULTS

  1. From the Supplier Defaults window, click the Ageing tab.
  2. The Ageing window appears.
  3. In the boxes provided, enter the supplier aged balances’ details as described below:
  4. Include Future Totals in Balance, Use Calendar Monthly Ageing, Periods
  5. To save your entries and exit, click OK, or to exit without saving, click Cancel.

(6) PRODUCT DEFAULT
a.      TO SET UP YOUR PRODUCT DEFAULTS

  1. Open the Settings menu from the Sage Line 50 menu bar and choose Product Defaults.
  2. The Product Defaults window appears.
  3. In the boxes provided, enter the product default details, as described below:
  4. Nominal Code, Tax Code, Unit of Sale, Category, Department, Quantity DP, Unit DP
  5. The defaults you have entered here will be entered automatically in each new product record you create.
  6. Note: Product records that already exist will be affected by changes to the Quantity DP and Unit DP options.
  7. To save your entries and exit, click OK, or to exit without saving, click Close.

(7) INVOICE DEFAULT
a.      TO SET UP YOUR INVOICE AND ORDER DEFAULTS

  1. Open the Settings menu from the Sage Line 50 menu bar and choose Invoice and Order Defaults.
  2. The Invoice and Order Defaults window appears.
  3. Use the following boxes to indicate your default details:
  4. Invoices Default to Account Reference, Invoice Items Default to Quantity, Show Special Product Codes in Invoicing/SOP/POP (Accountant Plus and Financial Controller only) Place Order Shortfalls on Order Automatically (Accountant Plus and Financial Controller only)
  5. Update using Order No, Update Using Customer Department, Update Service Invoices using the Following Text,
  6. Discount by Unit Price
  7. Default for Purchase Orders
  8. To save your entries and exit, click OK, or to exit without saving, click Cancel.

(8) FINANCIAL YEAR
a.      TO PREPARE FOR YOUR NEW FINANCIAL YEAR

  1. (Financial Controller and Accountant Plus) Remove any unwanted or redundant customer, supplier, bank, nominal and product records.
  2. Compress your data files.
  3. Run the Check option in File Maintenance.
  4. Take a back up of your data and label it "After Year End".
  5. Check the Financial Year start date in the Settings menu, to ensure it is correct.
  6. Well done, you have completed your year end procedure and you are now ready to start entering transactions for your new financial year!

b.      TO CHANGE YOUR FINANCIAL YEAR
Note: This function will affect most areas of your program. Print off the Change Financial Year Checklist and make sure you carry out all of the procedures listed.
Read the Change Financial Year Questions for the answers to frequently asked questions.

  1. Open the Settings menu on the Sage Line 50 menu bar and choose Financial Year.
  2. The Financial Year window appears showing your current financial year start date.
  3. To change your financial year, click Change.
  4. A warning appears informing you that you should run the Check Data option and takes a full backup of you data.
  5. If you have not done this, do not continue with this procedure and click No.
  6. If you have run the data check option and taken a full backup, click Yes.
  7. The Change Financial Year window appears.
  8. From the drop down list, select the month you want to change the Financial Year Start Date to and type the correct year in the corresponding box.
  9. To change the Financial Year, click OK, otherwise click Cancel.

A conformation message appears. If you are sure that you want to change your financial year and have all period balances recalculated, click Yes. If you do not want to change your financial year, click No.

  1. If you have chosen to change your financial year, a message appears telling you when the operation has been completed.

c.       TO EXTEND YOUR FINANCIAL YEAR
Sage Line 50 will only allow a 12 month financial year. However, you can use the Financial Year option to set two financial years, one to represent the first six months of trading and one for the remaining twelve months. You can then transfer the necessary information from one to the other using journals.
For example, your first financial year runs from January 1999 to June 2000, which covers an 18-month period. Your subsequent financial year runs from July 2000 to June 2001 and so forth. When you installed Sage Line 50 you set the financial year start to January 1999 which means it will only run for 12 months up to the end of December 1999.Using the above example you would have to change the financial start date to July 1999, therefore ending in June 2000. This means your current financial year runs for 12 months from July 1999 to June 2000.
After you have run the financial year change option, you will find a brought forward value appearing on any nominal accounts that have transactions which are dated before the start of the new financial year, i.e. these will be any nominal accounts that have transactions dated before July 1999. By default their values will not appear on any Profit and Loss report and they will not appear in the period column of your balance sheet. However, the year to date column of your balance sheet will show these figures. Any profit and loss nominal codes with a Brought forward value appear as a previous year adjustment on your balance sheet. If you want these brought forward values to appear on your profit and loss report (to give you an accurate account of your financial position), you need to process a series of journal entries. Transfer the Brought Forward values into the first month of the newly set up financial year. For example, move the brought forward figures into July 1999, the first month of the financial year. To do this you must

  1. Remove the brought forward figures from your nominal accounts.
  2. Record these balances in the first month of your new financial year.

d.      TO SHORTEN YOUR FINANCIAL YEAR
You cannot have a financial year of less than twelve months in Sage Line 50. The following example shows you what you must do if you need to do this;
Your first financial year runs from July 1999 to December 1999, which covers a six-month period. Your subsequent financial year runs from January 2000 to December 2000 and so forth. When you installed Sage Line 50, you set your financial year start date to July 1999. To get a six-month financial year you must use the Change Financial Year option to change the start date to January 1999.

(9)  CHANGE PROGRAM DATE
a.      TO CHANGE YOUR PROGRAM DATE

    • Open the Settings menu from the Sage Line 50 menu bar, and then choose Change Program Date.
    • The Change Program Date window appears.
    • Enter the date you require in the box provided.
    • To change your program date, click OK, or to exit without changing the program date, click Cancel.

    (10)  TAX CODES
    a.      TO ADD A VAT RATE

    1. Open the Settings menu from the Sage Line 50 menu bar and choose Tax Codes.

    The Tax Codes list box appears, listing all the VAT rates currently available for you. The list also shows whether each rate is ‘In Use’ (i.e. included on your Sage Line 50 VAT return), and if the rate refers to transactions with EC countries.

    1. Select the codes that you want to change then click Edit.
    2. To exit from the Tax Codes window, click Close.

    b.      TO EDIT A VAT RATE

    1. Open the Settings menu from the Sage Line 50 menu bar and choose Tax Codes.

    The Tax Codes list box appears, listing all the VAT rates currently available for you. The list also shows whether each rate is ‘In Use’ (i.e. included on your Sage Line 50 VAT return), and if the rate refers to transactions with EC countries.

    1. Select the code that you want to change and then click Edit.

    The Edit Tax Code window appears.

    1. Enter the rate to be applied (as a percentage) in the Rate text box provided. You cannot change this rate if it is an EC Code, as this rate does not apply.
    2. If you want to include this tax code in your Sage Line 50 VAT return, select the ‘Include in VAT Return’ check box. De-select if you do not want to include transactions with this tax code in your VAT return calculations.
    3. If the rate relates to transactions with EC countries, enter the following details in the EC Code area:

    EC Code, EC Sales/EC Purchases, Link To

    1. To save the details of this tax code and exit, click OK. To exit without saving, click Cancel.
    2. To exit from the Tax Codes window, click Close.

    (11)  CURRENCY
    a.         TO ADD A CURRENCY

    1. Open the Settings menu on the Sage Line 50 menu bar and choose Currency. The Currencies list box appears.
    2. From the Base Currency drop-down list, select your company’s base currency.
    3. Select the currency you wish to change, then click Edit.
    4. To exit from the Currencies list box click Close.

    b.      TO EDIT A CURRENCY

    1. Open the Settings menu on the Sage Line 50 menu bar and choose Currency. The Currencies list box appears.
    2. From the Base Currency drop-down list, select your company’s base currency.
    3. Select the currency you wish to change, then click Edit. The Edit Currency window appears.

    You can also double click on any line of the table to bring up the Edit Currencies window.

    1. In the boxes provided, enter the currency details as described below:

    Currency, Country, EC Member, Ex. Rate, Euro Member, 1 Euro =

      • To save your entries click OK, or to abandon your entry click Cancel.
      • To exit from the Currencies list box click Close.

      Prepared By Alh. Y. O. Olajide
      Managing Partner
      Olajide And Associates Nigeria (Chartered Accountants)
      www.olajideassociates.com

      (c) 2009