MCW227 - Sage 50 Accounting

Outline info
Last revision date 2018-07-20 12:00:19.754
Last review date 2018-07-20 12:00:33.588

Subject Title
Sage 50 Accounting

Subject Description
Participants gain a solid understanding of how to get started using Sage 50 Accounting software.  Topics include company setup, chart of accounts and related financial statements, setup of customers and sales transaction processes.

Credit Status
Participating students who attend at least 70% of the scheduled class(es) receive a document confirming he/she attended this workshop.

Learning Outcomes
Upon successful completion of this subject the student will be able to:

1. Create Sage 50 data files.
2. Create financial statements.
3. Set up a new company and use General Ledger.
4. Use Accounts Payable and Accounts Receivable.
5. Create financial reports.

Cheating and Plagiarism
Each student should be aware of the College's policy regarding Cheating and Plagiarism. Seneca's Academic Policy will be strictly enforced.

To support academic honesty at Seneca College, all work submitted by students may be reviewed for authenticity and originality, utilizing software tools and third party services. Please visit the Academic Honesty site on for further information regarding cheating and plagiarism policies and procedures.

All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at

Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Disabilities Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.

Bookkeeping experience  

Topic Outline
What is Sage 50 Premium Accounting 2013?
Starting Sage 50 Accounting
Selecting a Set of Data Files
Looking at the Getting Started Window
Looking at the Sage 50 Accounting Home Window
Moving Around
Help System
The Learning Centre
Understanding the Chart of Accounts
Account Types
Creating Accounts
Modifying Accounts
- Finding and Modifying an Account
Deleting Accounts
Saving Changes
Company Information
Printing the Chart of Accounts
Understanding the Session Date
Inputting Dates
Accounting / Non-Accounting Terminology
General Module Linked Accounts
General Journal Transactions
Recurring Transactions
- Creating and Storing Recurring Transactions
- Recalling Stored Recurring Transactions
Reversing General Journal Entries
The General Journal Report
Backing Up Sage 50 Accounting Data Files
Exiting Sage 50 Accounting

Accounts Payable
Creating Suppliers (Vendors)
Modifying Suppliers (Vendors)
Setting Up the Shippers List
Payables Module Linked Accounts
Accounts Payable Inventory Purchases
- Purchasing Inventory on Account
Non-Inventory Purchases
Purchases with Immediate Payment
Recurring Entries
Purchase Orders
Filling a Purchase Order
- Creating a Purchase Invoice from a Purchase Order
Viewing, Adjusting and Voiding Posted Payables Invoices
Payables Payments
- Paying Vendor Invoices
Making Prepayments
Reversing Payments
Payables Reports

Accounts Receivable
Accounts Receivable Customers
Modifying Customer Information
Receivables Module Linked Accounts
Comments on Customer Forms
Accounts Receivable Sales
Recurring Transactions
Sales Quotes
Accounting for Over-the-Counter Sales
Viewing, Adjusting and Voiding Posted Receivables Transactions
Receivable Receipts
- Receiving Payment on Invoices
Adjusting/Reversing Receivables Receipts
Prepayments and Deposits
Applying Deposits/Prepayments
Sales Returns
Receivables Reports

Creating a New Company
Using the Setup Wizard Starting Sage 50 Accounting
Setting Up the General Ledger
Reviewing the Linked Accounts
Reviewing Tax Codes
Entering Opening Balances
Entering Suppliers and Purchases History
Entering Customers and Sales History
Entering Inventory and Services History
Entering Employees and Payroll History
Finish Entering Historical Data
Customizing Sage 50 Accounting

Banking and Credit Cards
Making a Bank Deposit
Setting Up the Bank Reconciliation
- Setting Up an Account for Reconciliation
Reconciling an Account for the First Time
Reconciling an Account
Printing the Bank Reconciliation Report
Working with Credit/Debit Card Transactions
Entering Customer Sales on Credit Card
Reconciling the Credit Card Account
Creating and Setting Up Credit Cards for Purchases
Enter Supplier Purchases on Credit Card
Reconciling the Credit Card Statement
Creating and Setting Up Credit Cards for Purchases
Enter Supplier Purchases on Credit Card
Making Credit Card Payments
Handling Petty Cash
Using Debit Cards
Backing Up Sage 50 Accounting Data Files

Reporting, Miscellaneous and Period End Procedures
Setting Up Cheque Numbers
Creating Graphs
Creating and Printing Financial Reports
Using the Daily Business Manager
- Processing Transactions in the Daily Business Manager
Using Checklists
Checking Data Integrity and Compacting  the Database
Printing in Batches
- Setting Up Batch Printing
- Batch Printing
Month End Procedures
Calendar Year-End Procedures
Fiscal Year-End Procedures
Setting Up or Changing the Sales Tax Rate

Mode of Instruction
Classroom instruction and extensive hands-on experience will be provided with each participant having exclusive use of a computer.  Additional modes of instruction will include class discussion, lecture and question and answer period.   

Prescribed Texts
The following course materials will be provided:
Sage 50 Premium Accounting 2013
CCI #1656

Promotion Policy

Grading Policy
A+ 90%  to  100%
A 80%  to  89%
B+ 75%  to  79%
B 70%  to  74%
C+ 65%  to  69%
C 60%  to  64%
D+ 55%  to  59%
D 50%  to  54%
F 0%    to  49% (Not a Pass)
EXC Excellent
SAT Satisfactory
UNSAT Unsatisfactory

For further information, see a copy of the Academic Policy, available online ( or at Seneca's Registrar's Offices.

Modes of Evaluation
There is no formal testing or process to evaluate the students understanding. It is up to the student to evaluate his/her own progress. Students must attend 70% of the class(es) to receive a document confirming he/she attended this workshop.

Approved by: Denis Gravelle