Sage 50 is pretty helpful accounting software that helps users to manage their business financial activities such as handle your account, invoices, taxes, cash flow, and even inventory. In short, Sage 50 is an amazing accounting software that helps you leave all your number-related worries behind. However, like many other software, it is also prone to certain issues too. Sage 50 balance sheet carry over error is one such issue which restricts the software to match the ledgers due to unforced error. In this guide, you will come to know all the possible resolutions to get rid of this error which usually prompts the users while working with the software.
What is Sage 50 Balance Sheet Carry Over Error?
Sage 50 Balance Sheet Carry Over Error is an error that may occur when you are carrying over your data from the previous year. The error is caused by one entry in the old year that was not carried over to the current year. A monetary record is a report that rundowns your organization’s all’s liabilities, resources, benefits, and misfortunes. Each business should monitor its funds. Sage 50 record out of equilibrium mistake implies the record balance toward the year’s end doesn’t coordinate. At the point when this mistake happens, your records can’t be shut in light of the fact that your end adjusts don’t coordinate.
Insights into Balance Sheet in Sage 50
Every company has to maintain its balance sheet; it is nothing but a document that records all assets, income, liabilities, and losses on a date-by-date basis. Previously, all expenses, value of fixed and current assets, and other similar financial details, were entered manually by accountants. Now, software tools like Sage 50 make it pretty easy for you to maintain balance sheets as compared to before.
The error message, “The Sage 50 Balance Sheet has not been balanced for the current year. This can cause transactions to be entered incorrectly in the new year. Do you want to continue?” appears when opening a company file. If you click Yes, a second error message appears: “The Balance Sheet has not been balanced for the previous year. Do you want to continue?”
You May Also Read: Sage 50 Balance Sheet Out of Balance Issue
Issues in Sage 50 while Preparing the Balance Sheet that Leads to Carry over Error
- The last day of the financial year and the new financial year’s first day show different balances for each transaction.
- The sum of the account’s remaining earnings was shared with some other account.
- The account balance is not balanced in the retained earnings column.
- Not all accounts were closed with the retained earnings record.
Methods to Fix Sage 50 Balance Sheet Carry Over Error
Follow the steps in the sequence order to get rid of this Sage error.
Method 1: Check for Denied Transaction Issues
➤ The very first, select General Ledger under the Reports & Forms tab
➤ Next in the ledger, you have to fetch the report
➤ Now, choose the options and make a change in the time frame to All
➤ After that, hit the “Ok” button
➤ Close all the dialog box as well as the ledger if an error prompts you
➤ Once you’re done with that, select the Form then File and then Data Confirmation
➤ Begin the tests by marking the same
➤ You have to back up your files and save it (once the file has been saved then tests will start)
➤ At last, verify the ledger of the balance once the process completes successfully.
Method 2: Reliability Checks
➤ Initially, close the Sage 50 program in all your workstations
➤ Now, only work with the administration workstation
➤ Next, select Tasks then system and then Change Accounting Period
➤ After that, click on the “Period 1” and press the “Ok” button
➤ Click on the “help” then go to Customer Support & Service
➤ And then click on the “Integrity Check” option
➤ Start tests for sync journals and chart of accounts
➤ Once the entire process is completed successfully then verify the ledger balance whether it matches or not.
Method 3: If the Balance Still Not Matching
➤ Firstly, select the “Integrity Checks” and then go to the box named “Journal balances”
➤ And then hit the “Ok” button
➤ Now, you have to access the integrity checks and then press the Continue button
➤ Once you’ve done with that then make a click on the General Ledger Balance and then press the “Ok” button
➤ Verify the ledger is matching or not once the process completes.
Connect with the Team for Additional Help!
So, with the above-mentioned method you are now easily able to fix Sage 50 balance sheet carry over error. If not or still struggling with the same issue then you can easily connect with the team via Sage 50 technical support number . You can also reach out to the team by email at this email address support@apropayroll.com or do a Sage 50 live chat that is available all round the clock. There is one more way to approach them by filling out the customer contact form along with your query details and then the team will get back to you with relevant solutions.
