Sage 50 is a premier accounting software that helps the businesses perform their accounting and bookkeeping tasks in a more streamlined manner. No prizes for guessing why it is hugely popular all over the world. It is also appreciated for its user-friendly interface and usefulfeatures. However, there are somefeatures that theusers may find difficult to use at times. Deleting the charts of accounts is one such feature incorporated in Sage 50.In thisblog, we would be talking about how to delete charts of accountsand other associated matters.
Read Also-: How to Fix Balance Sheet Issues with Sage 50
Table of Contents
StepstoDeleteanAccountfromtheCharts of Account in Sage 50
- Before proceeding ahead, you mustfirst make sure thatthere are no transactions posted onto the general ledger withthe reference ofthe account ID.
- If an account shows a nonzero balance, you should delete/remove transactions attachedto it.
- Next, youneedto view the initial balance entries
- In case an account shows a nonzero balance, you should enter a corresponding G/L transaction into the General Journal , so astomaintain the account balance to zero.
- Then, after subsequent year-end closings, you may purge/delete the account.
Way to Delete an Account Permanently in Sage 50
- OpenSage 50
- Navigate to theMaintainmenu
- Click onChart of Accounts.
- The Maintain Chart of Accounts window will appear on your screen.
- Enter/select the account ID you need to delete.
- To view the list of existing accounts, go to the G/L Account IDfieldandtype?. Alternatively, you may clickon the Lookup button.
- Nowclickon the Delete toolbar anddelete the account.
- If the account contains a nonzero balance,Sage 50would display a message informing that you cannot delete the same.
- If you still need to delete it, examine its history by going to the Maintain Chart of Accounts window.
- Next, view theGeneral Ledger reportthat includes a date range of the last 2 open fiscal years.
- Locate the account transactions
- Double-click to view the corresponding task window where the transactions originated.
- Delete these transactions,
- Return to the general ledger.
- Ifyouwantto delete an account with beginning-balance entry, gotothe Maintain Chart of Accounts window andclickontheBeginning Balancesbutton.
We hope the sequential steps mentioned above have helped you a great deal to delete charts of accountsin Sage 50. If you are still experiencing any difficulties in carrying out the above-mentioned steps, we would recommend you to speak to some of the authorized Sage experts.
👉 Frequently Asked Questions
What is the difference between Voiding and Deleting? Which one is better?
From an accounting point of view, there is no major difference between voiding and deleting a check or chart of an account in Sage. Deleting and Voiding accomplish the same thing. Both the actions remove the impact of the transaction on your financial statements. From a record-keeping point of view, it is better to void a check/transaction than to delete it.
How can I Delete an Account with non-zero Balance in Sage 50?
If you want to delete an account with a nonzero balance in any accounting period within the two currently open fiscal periods, Sage 50 would display a message stating that you cannot delete the account.
If you still want to delete such an account, examine the history of the account in the Maintain Chart of Accounts window. Then, view the General Ledger report including a date range of the two open fiscal years. Locate the account transactions; then double-click to display the corresponding task window where the transactions originated. Finally, delete these transactions, and return to the general ledger. To remove an account beginning-balance entry, select the Beginning Balances button in the Maintain Chart of Accounts window.
How to make an Account Inactive in Sage 50?
You may make an account inactive to make sure that no transactions are attached with it anymore. After two subsequent year-end closings, you will be able to purge the account.
▪ Go to the Maintain menu
▪ Click on Chart of Accounts. The Maintain Chart of Accounts window will appear on your screen
▪ Enter/select the account ID you need to make inactive
▪ To view the list of existing accounts, go to the G/L Account ID field and type ? . Alternatively, you may click on the Lookup button.
▪ Click on the Inactive check box to the right of the selected account ID.