Sage 50 Accounting Basic to Advance Training Course 2026

Install the Sage 50 accounting latest version using the student edition, register for the educational program to receive the activation key, and explore the main interface with sample companies.

Explore a sample Sage 50 company to practice functions, including inventory, job tracking, and time and billing features, with options to open an existing company or create a new one.

Rate your experience for this Sage 50 accounting course by selecting five yellow stars and optionally leaving a comment. Save and exit to move on to the next video.

Discover how to create a new Sage 50 company with the setup wizard, selecting business type, chart of accounts, accrual method, posting method, and fiscal year.

Learn how to re-access Sage 50 company files after closing a company, including switching to another company or sample data by using the file menu to open an existing company.

Learn how to create and customize the chart of accounts in Sage 50, apply coding sequences for assets, liabilities, and equity, and set up opening balances and ledgers.

Delete extra ledgers in Sageline 50 by clearing balances first, then delete the ledger when the balance is zero, as shown with property and equipment and accumulated depreciation.

Enter opening balances in Sage 50 by navigating to the Chart of Accounts and selecting the correct period. Paste balances for each ledger until the trial balance balances to zero.

Extract the opening trial balance in Sage 50 by navigating to reports, General Ledger, and Journal Ledger Trial Balance, then set the date to January 1.

Learn to customize sage reports by selecting and reordering columns, adding fields like account type and current balance, and adjusting column widths and page orientation to fit more data.

Learn to enter customer balances in Sage 50 by creating customers, entering opening balances, and linking them to accounts receivable and the trial balance.

Enter vendors and their balances in Sage 50 using the vendors and purchases section and the setup wizard. Create vendor codes, assign inventory accounts, and record beginning balances.

Learn to enter inventory items and set opening balances in Sage 50 accounting, including creating items, selecting stock classifications, applying average costing, and posting beginning balances.

Reconcile the opening trial balance in Sage 50 using the Journal Ledger report, set the date to the 1st of January, and confirm debits equal credits before day-to-day entries.

Learn how to enter day-to-day transactions in sage 50, differentiate trading from non-trading activities, and record a cash purchase of furniture as a fixed asset via a journal entry.

Learn how to record advance rent in Sage 50, treating prepaid rent as an asset and posting a journal entry debiting prepaid expenses and crediting cash for six months.

Record a security deposit as other assets in Sage using a journal entry, ensuring correct debit and credit balances and reflecting it as neither a current nor fixed asset.

Learn to handle paint and renovation expenses in Sage with a non-trading journal entry, configuring maintenance and repair accounts, and recording debit to expense and credit to cash.

Learn how to receive customer payments in Sage 50, including locating open balances and recording the journal entry as cash in hand debited and receivable credited.

Demonstrates handling credit purchases in Sage by entering bills, selecting vendor items, creating new inventory items as needed, and reviewing journal entries for inventory and accounts payable.

Record a purchase invoice from a new vendor in Sage 50 by creating the vendor and entering inventory items, then saving a journal entry that debits inventory and credits payable.

Learn how to handle cash sales in Sage 50 by using a generic cash customer, recording sales invoices, and receiving cash to reduce receivables.

Book direct credit sales in Sage 50 by creating a new sales invoice for a customer. Enter date, quantity, rate, and item, then review the journal entry with receivables debit.

Record customer cash advances as a liability in Sage 50 using the receive money option and prepayment entry, demonstrated with Albert's 5000 advance and a related sales order.

Record a sales order for a customer in Sage 50; enter date, order number, and line items (Corolla windscreens, civic headlights), then save, noting it will convert to an invoice.

Record a direct sales invoice in Sage 50 for a regular customer without a sales order; the journal shows sales credit, cost of goods sold debit, and accounts receivable credit.

Create a new purchase order in Sage 50 by selecting the vendor, entering date and delivery terms, then adding items, quantities, and prices, and save; no accounting entries occur yet.

Learn how to handle bad debts in Sage 50 by closing pending invoices, recording bad debt expense via a journal entry, and posting to the bad debts ledger.

Record a service purchase in sage 50 accounting by creating a new vendor and service item, then post to cost of sales for services via accounts payable.

execute a partial payment in Sage by issuing a cheque to Mr. Anthony for 3000 against a 4500 invoice, reducing payables and crediting the bank in the journal.

Learn to convert a sales order to a sales invoice in Sage 50, selecting the customer, applying to order 25, entering quantities and dates, saving, and reviewing the journal entry.

Discover how to adjust customer credit limits and payment terms in Sage 50 by editing the customer in the payments and credit tab, including hold, no limit, and due days.

Learn to handle purchase returns in Sage by creating a vendor credit memo, adjusting it against the original invoice, and reflecting inventory and payable changes with the journal entry.

learn how to record full payments from customers in sage 50 by receiving money, selecting cash as the payment account, and posting a journal entry against receivables.

Learn how to convert a purchase order into a purchase invoice in Sage 50, by entering bills, matching vendor orders, and recording the corresponding journal entry.

Record loss of inventory in Sage via inventory adjustments by creating a 7200 loss of inventory account and linking it to damaged stock, then reduce Corolla windscreen quantity by one.

Learn how to correct existing entries in Sage 50 by using the inventory adjustment journal to modify dates and amounts, add a reference, save, and refresh to confirm updates.

Unwind prepaid expenses in Sage by recording a journal entry that debits rent expense and credits prepaid expenses for the consumed January portion of six-month rent.

Reconcile balances and extract closing reports in Sage 50 accounting from the opening trial balance through day-to-day transactions to period-end, and generate trial balance, income statement, and balance sheet.

Implement Sage accounting for Empire Textiles, migrating from manual systems to a computerized setup, with balances, ledgers, customers, vendors, and bills of materials linking raw materials to shirts and pants.

learn to create a new manufacturing company in Sage 50 accounting, configure the chart of accounts, select accrual accounting, enable real-time posting, and set a January to December fiscal year.

Customize the Sage dashboard by rearranging reports, setting a default tab, and extracting key insights like year-to-date, mini profit and loss, account balances, and aging analyses for receivables and payables.

Learn to customize the Sage 50 chart of accounts by editing ledgers, creating new accounts with proper IDs and types, and aligning assets, liabilities, and equity for accurate opening balances.

Configure the chart of accounts for your project in Sage, then enter opening balances for all ledgers and control accounts by project, ensuring period dates and balanced debits and credits.

Enter and configure new customers in Sage 50, set terms and credit limits, and record opening balances in the customer balances, invoices, and account receivable records.

Learn to enter vendors and opening balances in sage 50 by creating new vendors, linking to raw materials inventory (1200), and recording January 1 balances.

Configure raw material items in Sage 50, assign average costing, enter opening balances, and update raw materials inventory balances as the company shifts from manual to computerized accounting.

Define the stocking unit of measure for each inventory item in sage 50 by editing items and setting meters for cloth, cones for thread, and each for shirts and pants.

Learn to create finished goods from raw materials by defining a bill of materials recipe in Sage 50, automatically calculating material needs and updating stock for shirts and pants.

Record payment of accrued expenses by cash in Sage using a journal entry in the banking area, debiting accrued expenses and crediting cash on hand, with period adjustments.

Enter a purchase order in sage 50 for Start Textiles, with date January 2, 40,000 cloth b at 150, totaling 6 million, then save and adjust period to January.

Learn how to receive items against a purchase order in Sage 50, including partial receipts, enter bills, and make the journal entries that debit inventories and credit accounts payable.

Learn to record direct purchases on credit in Sage 50, set up a new vendor, apply early settlement discounts, and post inventory and accounts payable with journal entries.

Learn how to enter finished goods sales orders in Sage 50 when stock is unavailable, including creating a new sales order, adding items and quantities, and saving.

Record a bank to petty cash transfer in sage 50 by creating a journal entry, debiting cash and crediting Citibank, and include the date and amount for office use.

Receive money from customers in cash against open invoices, including partial payments, and record the journal entry with debit cash and credit receivable.

Record customer payments against open invoices in Sage 50, including partial payments from Archer Insurance via Citibank, using receive money and journal entry to debit Citibank and reduce the receivable.

Process vendor payments against pending invoices and apply a 2% early settlement discount when paid within ten days, recording the discount in payables and journal entries in Sage 50 accounting.

Learn to record services purchased on credit in sage by creating a vendor and service item, and posting an entry debiting cost of sales for services and crediting accounts payable.

Learn how to record cash purchases of services from one-time vendors in Sage 50, using a cash vendor, cost of sales, and journal entries for payment.

Record customer advances in Sage 50 by receiving cash, creating the customer, and applying the prepayment to a future order; treat as liabilities and verify with the balance sheet.

Learn how to manage a sales order with customer advances in Sage 50 by recording the order, recognizing advances as a liability, and converting to a sales invoice.

Learn to handle indirect expenses in Sage 50 by recording them via write checks or journal entries, including traveling expenses, with bank transactions and journal reports.

Learn to record indirect expenses paid by cash, such as repair expenses, from the journal entry option in Sage 50, including maintenance and repair expenses.

Record a fixed asset purchase in Sage 50 using a journal entry, include the check number, and create a motor vehicles ledger for a 50,000 Suzuki pickup, Bank of America.

Learn to manufacture finished goods from raw materials using a bill of materials in Sage 50, build assemblies, deduct materials by recipe, and track inventory with manufacturing runs and reports.

Learn how to record bad debts in sage by converting a customer receivable into a bad debt expense, using the receive money from customers workflow for a 600,000 invoice.

Convert a sales order to a sales invoice in Sage 50. Adjust customer advances by recording them as liabilities and applying them to the invoice total.

Learn to enter a direct sales invoice in Sage without a sales order, including creating a new customer, entering 500 shirts at 400, and reviewing the journal effects.

Convert a sales order to a sales invoice and apply an early settlement discount policy, calculating and recording the 2% discount for payments within ten days under net 30 terms.

Learn to process customer payments in Sage 50 and apply early settlement discounts to invoices. See how to record the journal entry and bank receipt for the discounted payment.

Learn to pay vendor bills in Sage 50 by processing partial payments, entering check numbers, dates, and memos, and reviewing journal entries to clear liabilities.

Learn to purchase a fixed asset by cash in Sage 50 accounting, recording with right checks or journal entry, debiting office equipment and crediting cash on hand.

Learn to clear loan liabilities in Sage 50 by entering a journal entry in the banking area, debiting the liability and crediting cash for 250,000 with proper narration and saving.

Learn how to process a purchase return in Sage 50 by creating a vendor credit memo, applying to invoices, and reviewing inventory and accounts payable effects.

Learn how to record and apply sales returns in Sage 50, using credit memos or invoice adjustments, and review the journal entries impacting receivables and sales income.

Record cash purchases for external packing services in Sage 50 using write checks, assign cost of sales for services, and review the debit and credit impact on journal entry.

Record director cash withdrawals as drawings to reduce capital, using a journal entry that debits drawings and credits cash for the amount withdrawn.

Learn how to record damaged inventory in sage 50 using inventory adjustments, classify losses as normal or abnormal, and update the ledger and quantities.

Record cash expenses directly using write checks or journal entries, paying income tax by cheque, and post the income tax expense against Bank of America.

Learn to record month-end accrued expenses by back-dating entries to the related period, debiting utilities, rent, salaries, and telephone bills, and credit accrued expenses.

Learn how to extract closing reports in Sage 50, including trial balance, journal ledger, income statement, and balance sheet, customize periods, export to Excel, and review general ledger details.