Return of Trading Details

In the Republic of Ireland, all VAT registered traders must submit an annual return of trading details on form RTD EUR. This return was introduced by the Revenue Commissioners, as part of an administration simplification process.

The RTD provides a breakdown of the supply of goods and services, imports, and deductible inputs, at the various tax rates that apply during the financial year. This includes all ROI, Intra-EU, and overseas trade transactions.

RTDIn Sage Accounts you can generate the values for your RTD then copy the information to the official RTD EUR form and generate the RTD calculations for a period. It is important to have all the requisite vat codes set up for the entire period so the RTD report can generate all the required totals, otherwise when you run the RTD in Sage 50 you will receive the message “No transactions found for this period”.

Edit Tax code

Edit Tax code

 

 

 

 

 

 

 

 

 

 

 

You must indicate in the case of purchases whether the goods are for resale or not. You must select from the dropdown whether the rate is zero, reduced, standard or exempt. In the case of EC tax codes, choose whether it is purchases or sales and whether it is goods or services related. You must also “link to” a similar (Irish) tax code. Also make the description meaningful. Obviously you must start your trading year with these vat codes in place and use them for the 12 months of the RTD return.

For a comprehensive guide to setting up tax codes for RTD purposes in Sage, Return of Trading Details Guide

Debtors and Creditors Report

Reasons why the Debtors or Creditors Control Accounts do not agree with the aged debtors or creditors reports, and how to take corrective action

As part of your weekly or monthly routines, you may produce and reconcile your Aged Debtors report with the balance on the Debtors Control Account. This enables you to keep track of your customers’ payment performance and chase any outstanding debts. You are also able to check that the Debtors Control Account balance agrees with the balances on the Customers ledger.

Note: This article explains why the balance on your Debtors Control Account may disagree with your Aged Debtors Analysis report. To use this article to check your creditors balance, substitute debtor with creditor and customer with supplier.

Sales Aged Balance disagrees with Debtors Control
Sales Aged Balance disagrees with Debtors Control

To produce an accurate Aged Debtors report, you must ensure that there are no searches applied to the Customers list, you have selected the Exc Later Payments check box and if you are using the detailed reports that you use a Transaction Date Range from 01/01/1980 to the end of the period being reconciled.

If the two balances do not agree it could be due to one of the following:

  • A genuine discrepancy in the accounts, for example…

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Bank Reconciliations

I reconciled my bank account last week. Now I see that my matched balance has changed – what has happened?

The most likely scenario in this case is that you have deleted a bank transaction that was previously reconciled. This is why the matched balance on your bank reconciliation has changed. You need first of all to find the transaction that was deleted from the system and then to establish why it was deleted in the first place.

Go to Transactions and enter the following search…

Bank reconciliation

 

This search will identify all transactions that were bank reconciled at some stage but subsequently deleted.

Presumably if a bank transaction was reconciled, it was on your bank statement so it should still be in Sage. Check your bank statement and if this is the case, re-enter the transaction and reconcile it. Your matched balance is now correct.

If the transaction should indeed have been deleted it means that your last statement was not reconciled correctly.

Configuring anti-virus software

How to configure your anti-virus software not to conflict with Sage

Under certain conditions, the anti virus software you are using to protect your PC may have an adverse effect on the performance of Sage Accounts. When Sage Accounts creates or accesses a file, the antivirus software can lock the file as it performs a scan. This means that Sage Accounts may slow down or appear to hang as the file is locked by the antivirus software. In extreme circumstances, antivirus software can also affect the stability and general functionality of Sage Accounts.
The purpose of this article is to identify the file types used by Sage Accounts that can be excluded from the antivirus software’s scanning routine, so as not to interfere with the performance of Sage Accounts.
This article contains the following sections:

  • Files used by Sage Accounts – Lists the file extensions for the files used by Sage Accounts that you may want to exclude from your anti virus software’s scanning routine.
  • Running Reports – When running reports in Sage Accounts several temporary files are created. The anti virus software scan may lock these files affecting the performance of Sage Accounts. As some of the files created use a file extension that is commonly used by other Windows applications, it is not practical to exclude these files from the anti virus scan. This section explains how to change the location of these files so that the anti virus software can be configured to exclude a specific folder rather than all files with a certain extension.
  • Links to the support areas of commonly used anti virus software websites – A list of commonly used anti virus programs and links to the support areas of their websites.

Files used by Sage Accounts

Note: The file extensions listed in this article may not be unique to files used by Sage Accounts and you may not want to exclude these from your antivirus scanning routine. If in any doubt please refer to your IT Administrator.
Tip: To improve the performance of Sage Accounts, it may not be necessary to exclude all of the file types listed below from the antivirus scanning routine.

Data Files:

  • *.DTA
  • *.DTH
  • *.COA

Report and Layout Files:

  • *.SRT
  • *.SLY
  • *.SLT
  • *.SLB
  • *.RPT
  • *.report
  • *.layout
  • *.letter
  • *.label

Memo Files:

  • *.SLM
  • *.PLM
  • *.NLM
  • *.ILM
  • *.BLM
  • *.CLM
  • *.DLM

Criteria Files:

Note: In the case of criteria files, the * represents the Sage Accounts user name that created the file. For example, Manager.slc

  • *.SLC
  • *.SLI
  • *.PRC
  • *.PRI
  • *.NMC
  • *.NMI
  • *.BKC
  • *.BKI
  • *.SKC
  • *.SKI
  • *.IVC
  • *.IVI
  • *.SPC
  • *.SPI
  • *.PCC
  • *.PPI
  • *.PCI
  • *.REC
  • *.REI
  • *.SAC
  • *.SAI
  • *.IPC
  • *.IPI
  • *.PDC
  • *.PDI

Running Reports

Note: This involves making changes to the Microsoft Windows registry. Using Registry Editor incorrectly can cause serious, system-wide problems that may require a reinstall of the Microsoft Windows operating system to correct them. Sage cannot guarantee that any problems resulting from the use of Registry Editor can be solved. If in any doubt, please refer to your IT Administrator.

This section only applies if you are using Sage Accounts v6.xx or above.

  1. Open the Windows registry and locate the following key:HKEY_LOCAL_MACHINESoftwareODBCODBC.INISageLine50v12.
  2. Within this key, create a new String Value called TempPathname.
    Note: TempPathname is case sensitive. Using the wrong case causes an error message when running reports in Sage Accounts.
    Tip: If you are not using Sage Accounts v12, replace SageLine50v12 with the relevant version number. If you are using Sage Instant Accounts the same registry key is used with the relevant version number applied. For example, if you use Sage Instant Accounts v14, the registry key is SageLine50v11.
  3. Modify the String Value and in the Value data box, type in the path to the folder where you want the temporary files to be created.
    Tip: We recommend you create a new folder in the Sage program directory called Reports_Temp and enter the path to this folder in the Value data box.
  4. You can now configure your antivirus software to exclude the following file types specifically in this folder:
    • *.TMP
    • *.000
    • *.001
    • *.002

You have now configured Sage Accounts to create temporary files in a specific folder when running reports.

Links to the support areas of commonly used anti virus software websites

To add these exclusions to your anti virus software please refer to the User Guide or press F1 to open the Help system. Please note that these products are not recommended, produced or supported by Sage.
The list below provides links to the support areas of the some common anti virus programs used:

Note: Synergy Network Ltd. cannot be held accountable for any content or advice given on this website or for any virus that could affect your PC as a result of adding these exclusions.

Logon Problems

How to remove the message: ‘Username in use – the program cannot connect you at this time’ Read more

Sage 50 VAT Returns

First Step: Setting up your TAX CODES

By default they are set up for the UK Vat system so this is one of the first things we need to change in Sage 50 before we can start entering data. and ultimately produce a Sage 50 VAT return.

Go to Settings/configuration/Tax Codes

Sage 50 VAT return

 

Select tax code and click on edit to access the Tax Code Set-up.

When you have accessed the Tax Code Set-up there are choices to be made as follows…

Rate:- The VAT rate to be used.
Include in VAT return:- Select this box if tax code is to be included in the VAT return.
Reverse Charge:- Use for reverse charges
Resale:- Use for Sales and purchases for Resale
Non EC Transactions:- For transactions with Non-EU Countries
EC Code:- Select this box for EC VAT transactions.
EC Sales:- To be used for EC VAT Sales. Goods or Services
EC Purchases:- To be used for EC VAT Purchases. Goods or Services
Link: Link to appropriate VAT rate for EC VAT Purchase.
Rate:- Purpose of Vat Code
Description To describe the VAT code

The following are the recommended VAT codes to be used :

Tax Code Description Tax Rate
T0 Sales & Purchases For Resale Zero
T1 Sales & Purchases For Resale 21 %
T2 Sales & Purchases For Resale 13.5%
T3 Purchases Not for Resale Zero
T4 Purchases Not for Resale 21 %
T5 Purchases Not for Resale 13.5%
T6 Export Sales Zero
T7 Import Purchases for Resale Zero
T8 Import Purchases Not for Resale Zero
T9 Non Vatable/Exempt Transactions Zero

Running your Vat Return

The VAT Return can be based on 2 calculation methods. The accrual basis of return i.e. Sales & Purchase Invoices whether they are paid or not or Irish Vat Cash Accounting – claim Vat on Supplier Invoices regardless of payment, pay Vat on Customer Receipts.

To produce your VAT return

  • Click on Financials
  • Go to Tasks Pane
  • Manage VAT
  • Click on VAT Return

This brings up a VAT form.

  • Enter the dates that you want to reconcile
  • Click on Calculate

The system will then tell you how many transactions it has found and whether you wish to proceed. If it says there are transactions from a previous period always say Yes to include them. These are late transactions not reconciled in the previous Vat Return.

vat-return

vat-return-new

To check if the figures are correct you can either:

  • Click Print to print out the reports or
  • Double Click on any of the amounts in the boxes 1 to 9 to see the breakdown of each figure.

Once you are satisfied that the return is correct print out your reports (VAT Return and Summary) before reconciling.

  • Click Reconcile and the VAT Tasks screen appears. (This can be closed if not required and can be run again by using the VAT Tasks Icon)
  • Run VAT Transfer will transfer the the Sales Vat and Purchases Vat Control Nominal Accounts to the Vat Liability Nominal code.
  • Record Payment (Receipt) posts a payment/receipt to the Vat Liability Nominal Code.
  • An Xml version of the Vat return for an online return can be accessed at by clicking on…

Managing Vat Returns

Sage 2013 provides the facility to view your old vat returns. Remember that because of late invoices and credit notes you cannot re-calculate an old vat return you may have submitted.

How to use the Search Option

To do a basic search use the Quick Search option which will look up the relevant word for you e.g. John and click Quick search in Customers Module, this searches all Customer Records for instances of this word.

When finished clear your search as it could interfere with using the more advanced search detailed below unless used in conjunction with it.

The Search option allows you to refine the lists available in any of the modules in Sage Accounts. For example, if you have a large number of customers you can use the Search option to reduce the number that appear when you open the Customers window.

The Search option restricts the records that appear to those that you specify, enabling you to quickly locate information. In all modules, except Financials, if a search is applied and you run a report, the report is limited to the records that appear on the main list. The Search option is available in all of the program modules, except the Bank module.

This article contains the following sections:

  • To create a search – This section explains how to create a Search.
  • Search Value Filters – When you create a search you may want to display a specific record, or you may want to display a range of records or use a complicated filter.

Note: If a search is applied within a module, then the module banner states how many records have been found that match the search criteria. To toggle the display, click the spy glass on the module banner.

records-matched

To create a search

Note: In this example, we are creating a search on the Customers list, which excludes customers with a zero balance from the main Customers list and from the customer reports.

  1. Open the relevant module, for example, Customers, from the Links pane, click Customer List then click Search.
    If you have not previously created a search in the selected module, the Search window appears without any details.
    If you have previously created a search, the Search window appears displaying the last search.
  2. To clear a previously created search and create a new one, click Discard.
    The Search window clears.
    Tip: If you require further assistance creating your search, click Wizard then follow the steps in the Expression Wizard.
  3. Complete the Search window as follows:
    • From the Join drop-down list, choose Where.
    • From the Field drop-down list, choose the field you want to Search on, for example, Balance.
    • From the Condition drop-down list, choose one of the following conditions:
      • Is Equal to
      • Is Not Equal to
      • Is Less Than
      • Is Greater than
      • Is Less Than or Equal To
      • Is Greater Than or Equal To
      • Is Between – Not available in Financials or on all fields.

    For example, to exclude customers with a zero balance, the Field column choose Balance then choose the Is Not Equal To condition, and leave the value set to 0.00.
    search
    Note: The conditions available vary according to the field selected.

    • In the Value box, enter the value to be applied to the Condition.
      Note: When using the Between condition, the two values must be split by a comma. For example, to display nominal codes between a certain range, choose the Nominal Code field, the Between Condition. Then in the Value box, enter the nominal code to start from, followed by a comma and the last nominal code, for example, 4000,4009.
      For further information about refining the Value information, please refer to the section Search Value Filters later in this article.
  4. If required, to apply the search without adding a further line, please proceed to step 5.
    If required, to add another line to the Search, after entering the Value, from your keyboard press the TAB key. On the second line, from the Join drop-down list, choose Or or And as required then from your keyboard press the TAB key. To complete the additional search line, repeat step 3.
    Note: When you add a second line, you need to decide whether you want both, or either, condition to be met. If you use the AND command to link two expressions, both expressions must apply for a record to be found. To link expressions where either expression must be true for a record to be found, you should use the OR command.
  5. To apply the search, click Apply then to close the Search window, click Close.
    The search is applied and the module window appears with the search applied. The number of records found matching the search appears on the module banner.

You have now applied the search to the selected module.

Search Value Filters

Wildcards

Wildcards are special characters that can be used to represent a line of text, or an individual character. They can be used in the Value box when you want to select a range.
The following wildcards can be used:

  • ? – Represents a single undefined character, for example, WE?001 finds WEB001 and WET001 and so on.
  • * – Represents any numbers of valid characters, including spaces, after a specific value, for example, NE* finds all text beginning with NE.
  • $ – Represents a specific line of text anywhere in the data, for example, $ABC finds all text that contains ABC.

Brackets

In certain circumstances, brackets may appear in the search requests you are creating. Sage Accounts automatically adds the brackets for you. The rules regarding the use of brackets are as follows:

  • If your Join fields only include WHERE and AND, brackets do not appear.
  • Brackets appear when OR is used to link expressions and the field chosen before and after the OR are the same.For example, where Account Reference is Equal to A Or Account Reference is Equal to BThe expression appears as Where ( ‘Account Reference’ = ‘A’ Or ‘Account Reference’ = ‘B’)
  • If you are using both AND and OR in your expression, brackets appear if the OR is considered to be a separate filter.For example, if you wanted to search for all suppliers with a balance less than 500 who have settlement due days more than 20, and accounts where the settlement due days is equal to 30 you could set up the following Search request:Where (‘ Settlement Due Days ‘ > ‘ 20’ AND ‘Balance'< ‘500’) or ‘settlement due days’ = ’30’
    The Search facility assumes that the first two statements are related, and therefore brackets them.search-wildcards

Data Corruption in Sage 50

What is data corruption?

Data corruption in Sage means that errors have occurred in the underlying database which stores all your financial data. Corrupt data cannot be relied upon. The Sage program may not be able to read the data correctly, resulting in faulty reports (eg aged debtors reports with false totals). At year end your accountant will not be able to rely on the data you provide to him/her.

How can I tell if my data is corrupt?

You can tell your data might be corrupt if you experience any of the following:

  • Unexpected behaviour in the software you use.
  • Forced software closures
  • Incorrect information being produced.

In our experience here in Synergy Network, we have seen clients whose Financial reports either won’t run or are not accurate, and Sage 50 unexpectedly crashing.
The best way to establish whether or not your data is corrupt is to run the Sage 50 Check Data routine (more later…).

Why does data corruption occur?

Corruption can occur for a number of reasons. The following are a few examples:

  • Power cuts and surges.
  • Software crashing.
  • PC locking problems.
  • Conflicts with third party software.
  • Hardware or network problems e.g if you are posting invoices they are transmitted across a network to your server. If the transmission is interrupted in any way, corruption may occur.
  • Backing up to and restoring from damaged media

What can I do to prevent loss of data?

The Check Data option checks the validity of your data files. It is vital to run this option everytime you backup your data. Backups are worthless if they contain errors.

Running Check data

  1. Open the File menu then choose Maintenance.
  2. Click Check Data.
  3. As the files are checked, the progress is displayed.
  4. If there are no problems, the Maintenance window appears informing you of this, to complete the process, click OK then proceed to step 5.
  5. If there are problems with your data, the File Maintenance Problems Report appears. Ring Synergy Network Support immediately. Errors must be fixed before you can continue to enter transactions into Sage.

Backups

Backing up helps to prevent data loss in the event of computer or network failure or data corruption. Here are some tips to help you ensure that your backup strategy is up to scratch…

When should I backup?

If you use your accounts program everyday, then you should do a check data and backup at the end of everyday. It is also important that you back up before and after irreversible procedures such as performing the Month End and Year End routines or clearing your audit trail.

How should I backup?

It is essential to choose an appropriate backup medium. For convenience and portability, memory sticks are ideal (available at any computer hardware shop). Many larger organizations will have an IT department that has its own server backup system in place but these will not do a check data and might therefore prove useless. Also note that if you data is being backed up automatically in the cloud for you every evening it is still neccessary to verify your data. Therefore we would highly recommend taking additional Sage backups through the Sage 50 program, where you do your Check data and backup together as a daily routine.

Prepare for disaster

Rotate your backup medium i.e do not have all backups on one memory stick. In case of fire or theft keep one of these backups off-site.

Test your recovery procedure

It may never happen, but if it does, you need to know where to find your latest backup and how to retrieve it off the medium in question (tape/memory stick/cd). We do not recommend restoring over your live data so why not start a monthly routine whereby a backup is sent to the Synergy Network Support team for testing/recovery. We have encountered clients that due to corruption have had to resort to tape backups, only to discover that these backups were not actually working!

Finally

If you have any questions or queries about your Sage 50 check data/ backup routine, do not hesitate to call the Support Team in Synergy Network on 071 9146815 or email us support@synergynet.ie.

How to run the Year End?

Running your Sage 50  year end routine is simple and takes care of all your financial year end accounting. Once you have prepared by posting your final transactions of the year and printed out the required reports, you are ready to run the Year End option. The Sage 50  year end routine transfers the balances from your profit and loss accounts to the Retained Earnings account and carries the balances on the Balance sheet forward to the new financial year.

Before running the Year End Reports it is essential there are no errors in your Chart of Accounts. To check this, go to the Nominal Ledger and click on the COA icon. Highlighted is probably Default layout of Accounts. Click Edit at the bottom of the screen. Your Chart of Accounts will now open. Click on the Check option at the bottom of the screen. If a dialog box appears print the COA errors and ring Synergy Network. If there are no errors you may continue the steps below.

To prepare to run your year end

  1. Post all your transactions for the current year. The Year End Procedure does not need to be run straight after your Year End date. It is more important to ensure all transaction are entered.
  2. Check that you have set up and posted all your recurring entries, pre-payments, accruals and depreciation for the year.
  3. Reconcile all of your bank accounts to their respective statements using the Bank Reconciliation option.
  4. Do not reconcile past your Year End date until you have printed off the following Report. If you have more than one bank account, unhighlight whatever bank is highlighted (by left clicking on the bank in question) to ensure the report is run for all bank accounts. Go to Bank/Reports/Bank Report – unreconciled
  5. Reconcile the VAT Return Analysis.
  6. If you use stock control, from the Product Reports window, print the following Product Reports. As with the bank report do not enter transactions until you have printed the following reports.
    • Product History (Activity) report
    • Product Valuation report
    • Product Profit report
  7. Print the following reports (if required consult with your accountant): When running reports, ensure that you run the report to the last date in your financial year.
    • Aged analysis reports for debtors.
      Customers/Reports/Aged Debtors Analysis (Summary)
      Leave Customer Ref as it is, enter Year End Date & tick Exclude later payments.
    • Aged analysis reports for creditors – as for Debtors
    • Activity reports on all ledgers
      Nominal/Reports/Nominal Activity – ensure Inc B/Fwd Tran is ticked.
  8. Print the following 3 Financial Reports.
    • Trial balance
    • Profit and loss
    • Balance sheet
  9. You have now processed all of the transactions for the current year and printed out all the reports you need. You are ready to run your year end.

To run the year end routine

  1. Open the File menu and choose the Maintenance option. Choose the Check Data option to look for any errors in your data. If any errors are reported you must correct them before continuing with your year end.
  2. Take two backups of your data, label them clearly “Before year end” and store them in a safe place. Do not use your normal backup disks, these are for archiving.
  3. Open the Settings menu and choose the Change Program Date option. Enter the year end date.
  4. Open the Tools menu and choose the Period End option and then choose the Year End Option. The Year End dialog box appears.
  5. Ensure that the Year End Date, Current Date and Year End Journals Date fields display the last day of your current year.
  6. Check Data and Backup options.
  7. Check location of Archive. This option creates a year end archive that can be viewed at any time.
  8. Budget options are use the actual year data as a budget or the previous year budget with an increase. If no budget is required take off tick.
  9. Tick Lock Date button to prevent entries into the previous year.
  10. Select Run Year End button.
  11. To continue with your year end choose the Yes button, or to cancel choose No.
  12. Select output for Year-End Journals, preview, send to file or print.
  13. When the Year End has finished a message will appear confirming new financial year details.