Sage Help Please

Discussion in 'Accounts & Finance' started by kirstie27488, Jul 13, 2010.

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  1. kirstie27488

    kirstie27488 UKBF Newcomer Free Member

    27 0
    hi all,

    If i have just started up as a sole trader, how would i enter my fixed assets into sage if they were already owned. I have tried to enter them into sage but it asks me to put in a supplier acc.

    thanks
     
    Posted: Jul 13, 2010 By: kirstie27488 Member since: Apr 6, 2010
    #1
  2. MyAccountantOnline

    MyAccountantOnline UKBF Legend Full Member

    13,337 2,506
    Hopefully someone who uses Sage will be along soon but generally you would do this by entering a journal - debit fixed asset additions and credit capital introduced.
     
    Posted: Jul 13, 2010 By: MyAccountantOnline Member since: Sep 24, 2008
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  3. Jenni384

    Jenni384 UKBF Big Shot Full Member

    4,861 1,542
    You don't need to enter it through the Suppliers module.

    As Nicola says, doing a journal entry is likely the most simple way of bringing these in.

    Go to the Nominal module and then click Journals.

    As an example, your journal would be
    DR 00** (Fixed Asset account)
    CR 3*** (Capital account)

    You may have to set up the capital account by going to Nominal > New and choosing the Equity category which should put it in the 3*** range.

    Hope that helps.
     
    Posted: Jul 13, 2010 By: Jenni384 Member since: Oct 1, 2007
    #3
  4. kirstie27488

    kirstie27488 UKBF Newcomer Free Member

    27 0
    Thanks guys, thats helped alot.
     
    Posted: Jul 13, 2010 By: kirstie27488 Member since: Apr 6, 2010
    #4
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