Sageline 50 Basic to Advance Training Course

1. Introduction to Sageline 50: Welcome to the season from basic to advanced training course, where you will learn the expert knowledge of the most popular bookkeeping and bad management software. My name is Sam, and I'll be leading you through this course. I'm an Associate Chartered Certified accountants and I've been in the training field for nearly eight years now, in which I've trained many companies, institutes and students. We have designed this course for anyone who seeks to grow his career in accounts. Or maybe the people who own their business will be able to manage their business accounts or handle their company's database in a better way. By the end of this course, you will be able to deal with complete online project of treating or manufacturing companies that we will cover in this training. In all of our trainings, we use the method of radical project-based training, which means that you will be working on the scenarios and assignments that are most closely related to the Realtime working environment, which will produce incredible results within a week from menu start the training. So you will learn not only how to handle the assignments, you will also be able to learn how to handle the complete starting of the business scenario. Explain step-by-step. So we will be dealing and practicing on each portion, video by video. Our videos are equipped with all the assignments that you need to practice on, hence giving you a real life working experience in your working. Together, we will walk through the entire process step-by-step. The ideal student for this course is who is already in the field of accounting and finance. But even the people who own their business or just starting out in the accountancy carrier will be able to grasp the knowledge given in this course. Because we will start everything from ground 0, there are no requirements necessary to enroll in the course. We only asked that you are eager to learn something new. Feel free to check out the course description and I'll see you in the class. 2. The Software Basics: Now Cj is a UK based company or Europe based company which developed many management and accounting softwares. Now, this Cs line 50 software is specifically dedicated to vac management and bookkeeping. So this is most widely used in UK for various management and filing corporation tax returns or simple bookkeeping. It is ideal for that. There are other versions as well. For a seat, c is 300 seats, CIS and CGRP and many other softwares are in the list, but this is specifically dedicated for bookkeeping and wag management. So this is a brief introduction about sizzling 50. From the next videos. We will start installing this CH on your PC, and then we will learn how to use it. In the coming videos, we will start installing seasoning 50 and start working on our assignments and see the basic interface of sage. 3. Installation of Sageline on your PC: Now we will see how you can install it. Sees line 50 accounts on your laptop or on your PC. The procedure is very simple. This is the setup file which you can download from the resources section. And it is attached with this video. So you can just simply download it. And this is a zip file. So you need this vendor software to extract the softwares. If you don't know how to install this vendor or you don't have this version and you can see this books, then the procedure is very simple. Just firstly, right-click on this PC and go to Properties. Now, just check which operating system type do you have. If you have 64-bit version, you need to download 64-bit Pindar from internet. I'll just type windrows. 64-bit free download. You can download it from any website, including vendor, official. I'll just click on it. And there I have different versions. You can just simply click on Download vendor and click on Download again. And it will start downloading like this. Once the download is complete. Just click on this arrow and show in folder. Just install it. It is very simple. This is like next, next installation. Now once it's downloaded, just double-click on it and click Install. It is very simple. After the installation. You can see these books. That means it is a zip file which needs to be extracted. Just right-click on it and select Extract to siege 50 accounts. So it will start extracting. Once the extraction is done, just go to this folder. And if you see another folder, go to that folder, and then just click on T-accounts shootout in 13. Like yes. Now I'm using 2013 version, but all the versions are more or less seam. You will get to know all the functionality of siege from this version. I'm using this version because it comes with multiuser access and it has a proper crack version so that you can properly use this software for a long term. Now this is a simple installation wizard. Just click Yes. And click on standard Install next. Now once the installation is complete, click Finish. Now it will come immediately on this particular window. So it will check for the upgrade. And once it's completed, just close it. And then I need to drag it with a single user license key. Let's open it. So I have bought license keys, multi-user as well. So I'll just use multi-user. But first, let's open this off here. I can see this icon on the desktop. I'll double-click on it. And if it asked for the updates again, just click Okay. Now serial number is this, is copy this. Paste it here. And activation key is this one. Copy this one, and paste it right here and click continue. Your copy of CH 50 accounts is now registered. Thank you. Click Okay. And then you will come on this main screen. Just follow that procedure and do the work until this area. Then I'll explain you further what to do next. 4. Company Options and Date Settings: Now, when you open sizzling 50 software, you will see this welcome screen in which there are three options. Either you can set up your own company. That means you can create your own person company, or you can open the practice data. Now, it is clearly mentioned that practice using programs features without affecting your company's debt. That means you don't need to enter your practice data transactions in your main company data. In this company file, you will find all the customers, suppliers, and inventory, but there will be no transactions, as it is mentioned, that this will start a blank set of company information. So this is also used for practice purposes. And the third option is most useful, that is open demonstration data. In this option, they have an example company set up for you so that you can check all the customers invoices and how it looks like in the reports. And they have multiple customers, suppliers, and inventory for a couple of years. So you can use this demonstration data for your trial and test method if you want to explore Cs line 50. So you can use this one. For example, if I want to open this, I'll just click on it and click Okay. Now after that, you will come under the screen. So the login name is managed by default and there is no password in it. I'll just click Okay. Now first-time, you will always see this incompatible deed settings message. That means you need to go and change settings. So I'll just click on Settings. And from here, I'll go to additional settings and date. Now, I need to change this. Make sure that di di means date should come first, then month, then year. And year should be with four y's. That means full year will be shown in all the entries. This is the date format that is recommended by Cj. And it should be separated with forward slashes. Click Apply. And Okay, and Okay, now this company is open. But if I close it and try opening it again to see whether it gives that prompt to change the date format are not. Just double-click on it. Open demonstration company. Okay. And login is manager, no password. Okay. So now you can notice that it directly opens the software. So these are some of the basic settings that is required when starting your seeds line 50 software. 5. Create a New Company: Now, if I want to create my own company, I'll just close it. The sample company. And let's open seats over here again. Now I'll click on the first option to set up my own company. Set up your company data. Just select this and click Okay. After that you will see this company setup screen. Here I have three options. Either I can set up a completely new company which is stored under dislocation C program written. This is the file extension. Or if I'm working in a company environment, then you don't need to set up a new company. Instead, you can just open existing company which is stored on your network. That means on the sharing or server sharing. And you can also restore data from a backup file if you want to move your company file from one PC2 and other PC because you are selling, for example, that is outdated PC and you want to change it. So you will just take backup of that company and then just restore the backup on the new BC. So for now, I'll just set up a new company. Click Next. Now, if you want, the network sharing, all the options will remain the same. So just click Next. Now, the company we will work on, Android is so just mentioned the name for now. I'll attach the assignment in the next video. So just mentioned this names enteritis and country will be UK. And we can mention all the other information later. This is not a rocket science, this is very simple details. So just click Next. Now I have to select a business type, sole trader, either my business is sorted or partnership liability, limited liability, charity based. So what it does, whatever isolate, it shows the description that this creates a nominal codes and profit and loss and balance sheet reports specifically designed for a sole trader. That means it picks up the basic setting from what you have mentioned. If you're mentioned sole traders, it will automatically create all the ledgers that is required for the sole trader business. And similarly, profit and loss and balance sheet reports layout will be adjusted accordingly. So my business is sold reader, I'll just select this and click Next. Now fiscal year. If you have the fiscal year of Jen, January to December, which is normal practice. So you can just select that. Otherwise, if you have July to June, so it will automatically pick up July to June if you set that. So for now, I'll just select January and years 2020. Next. Now is your company where to the shirt? If it is, then click Yes and enter the registration number. So I can just mention any number. And there are different schemes. Standard cash accounting, period invoice B is cash-based. So for this assignment, we don't have that in this assignment, so I'll just standard rack and if it is gendered, Brad just mentioned any percentage. For example, 20% is the standard wet. So you don't need to mention a percentage sign winner weathered because it is all ready in percentage. So just click Next. Now basically didn't see is pound sterling. Click Next. Now, if you want to mention any password, you can just give any password. I'll just mention 1234. And click Next. Now, this is the summary of what you have selected earlier. So just check this and if you have any problem with any of the settings, just go back and genes that. Otherwise, just click on Create the company. So after the company creation is done, you can just simply put your username and password to login. If you want to customize by their recommendation, you can click on Customize company, otherwise you can just close it. So after the login is done, you will come under this interface. So just create the new company. Follow this method. And let's see what further do we have. 6. Chart of Account Coding: Now let's start our assignment that is enteritis. Now you can find this assignment with the link of this video. So just click on the Resources section and you can easily download that. So I'll just open it. Now let's understand the scenario. Is basically our car park grading business. That means it simply buys the car parts from wholesalers and seal it in the local market by retailing it. So these are different Inventory types. As you all know, that trading company is very simple. Do not manufacture anything just by from one party and sell to the other party. Now let's consider this scenario as this company might be using manual accountancy or might be using Excel before. But now their business is expanding, so they are planning to shift to a particular software. So for that, they want to implement sees line 50. What they can do is they will close the last financial year manually and extractor trial balance as a closing trial balance from whatever it is, manual accounts or Excel, they will extract the final trial balance as a closing. And then we will simply just put opening balances of that particular letters in seats. So that is how you implement any software whenever you need. Remember, you cannot transfer for five years bad data. So the most convenient method is disclosed the last year manually and then enter it as an opening trial balance, and then you can simply start working on siege. After that. Now, we need to see that whether or not all of these letters already exist in sizzling 50. Because if you remember, in the starting, we select the sole proprietor. So according to sole proprietor, CH has provided some of the letters automatically. So to check that, I'll go to seed. Now, this is the navigation area. We have different tabs for different areas. If you click on customers, you will see all the activities and tasks related to the customers. This is supplies interface. I'll go to company. Company is genetic area in which you will find chart of accounts or nominal letters. Now when you select that and you click on the nominal ledger, by default, you will see it group wise. For example, it is mentioned total sales, but if I click on the plus sign, it is categorized under production yields export sales. Now if I click on plus sign, so it will show us different ledges related to the product sales with different codes. So this is very good for navigating the particular ledger with categories. Similarly, for example, total fixed sensors. I have total fixed assets. There are different categories for it. Let's click on plant and machinery. And this is the ledger for plant and machinery, and its ledger chord is this. But if you want to see an overall list without categories, so just go to right-hand side under the layout and change from analyzer to list. So this way you can see all the letters together in a single list. Now, I will check all the accounts one-by-one, whether they exist in C is length 50 according to the assignment or not. Now, you can notice that all of the letters has some different nominal quotes. But there is a general rule for understanding the area of that. These are not just random gourds. There is a rule for writing the code. Let me mention that in Excel, this is Chart of Account coding rule. All the accounts that starts with 0 are fixed assets. So let's check in Sage. You can see that all accounts starting from 0 are normally fixed assets. Similarly from one, they are current assets. From two series. They are liabilities. Three is for equity. For, is for revenue. Five is four, cost of sales is direct expenses. Seven is indirect expenses. It is also indirect expense. And some of the taxation expense accounts are also mentioned under a thousand codes. And from nine, it is suspense adjustment account. So this is the coding rule. I'll just save it and attach with this video, this file so that you can follow that easily to identify the particular area of the ledger. Now let's check. If I want to find liabilities in sage nominally codes, I'll just go and directly scroll to 2 thousand codes because I know that liability always starts from two. I'll just scroll here and you can notice that after one-to-five zero, it comes grantee 100. That is a liability account. And this is also a liability account. And from three sequence is capital for sequence is revenue. So this is how you identify the particular area of the laser. So what you can do is first analyze the different sections or different codes according to this rule. And then we will see one-by-one, whether these letters exist in my sage already or I need to create a new one. 7. Creating and Editing Chart of Accounts: Now let's check one-by-one whether these accounts already exist in Sage. So our first account is debtors. I'll go to seed. And as we can, as we already know, that receivable is going to desert. So we have to follow this method. That is, one coding starts with current assets. Once one coding means current assets. So under the current x search section, I can see debtors control account. Now, if you want to change the name of it to account receivable or any other name. Just double-click on it and you can change it to any name you want. And click Save. So this is changed now, similarly in liabilities section, next is greatest control account. So I'll just scroll down and I already have this one as well. Now next is stock. Stock. Let's check stock. Now one thing you will notice that whenever you click on any later, it will get selected and the selection will not be cleared. So whenever you want to clear the selection, you can just click on the bottom of it and click clear from here. Now next is finished goods. This is my inventory control account. So one double 03 already exist. Now. Next is land and buildings. Now as we already know that fixed assets is from 0 coding. So I'll just scroll up and check if we have land and buildings there. So I only have 23 accounts or maybe 456 accounts related to fixed assets. So what I can do is I can change the name of an existing ledger to adjust it according to my requirements. So let's see, double 010 is freehold property. I'll just double-click on it and change it to land and buildings. And then just save it and close. Now, next is accumulated depreciation of land and building. Now, if you notice on siege, there are a couple of fixed asset accounts and the relevant depreciation account as well are already there. But for this particular ledger, land and buildings, land and building was not also there. And accumulated depreciation is also not there. Accumulated depreciation is normally termed as contra asset. That means the nature of the ledger will be asset, but it will come under credit side because it reduced, because it reduces the overall value of the asset. So this is a contrast. It, you can just Google it. What is contrasted and see the definition of it. I'll not go in much detail. So what I can do is I can change the leasehold property name to accumulated depreciation of land and building. Just simply double-click on it and change it to accumulated depreciation of land and building. Now what I can do is I can also copy this ledger name and then just paste it here and then save it. I'm using foxes reader as my PDF reader. This is very easy to use and flexible. So you can just download it from Google, this type box, that reader and you will find different websites. Now next is motor vehicle. Let's check motor vehicle. Now. I already have motor vehicle and it's relevant deposition account. So no need to enter that. Let's check machinery now. I have the machinery and the relevant accumulated depreciation account. So no need to change that as well. Next is cash. So for cash, I'll just see, Let's see that in the one area, I have cash register. So I can just change it to cash in hand. And then just save it. And close. Next is Standard Chartered Bank. Now, obviously this is particularly related to this assignment. So it is obviously not there in Sage. So what I can do is these are the bank accounts, 1200 to something like 1220. So bank current account is the general name of the bank. So I'll just double-click and change the name to Standard Chartered Bank. And then just save it. Similarly. Next is, you'll just copy this. Double-click here and then just change this as well. Save and close. Next is capital invested. Let's take capital invested under three area, which is equity. Capital is already there, so no need to change that. And last is accrued expenses. Accrued expenses is usually builds people that is a liability. So liability comes under To area. That means it's start with coordinate to accruals are also there, so no need to change that as well. So that means we have totally reconciled are all the ledgers and check whether we have that same name already existed in C is line 50 or we need to address that, make these adjustments. And then we will put our opening balances to get started. 8. Creating New Ledgers or Chart of Accounts: Now for example, I want to create a new asset account. Besides all of this. So what I can do is I can just directly click on nominal record. And we have some of the accounts here. Double 050 is motor vehicle double 0 phi one is Motor Vehicles depreciation. So let's make it two, double 060 because after that current assets starts. So I can make double 060. Press Tab. But as I press tab, it shows a warning message that this nominal code is outside the range of chart of accounts. Therefore, it's balanced will not be reflected in your profit and loss or balance sheet report. Choose either or different nominal code are insured, you update the chart of accounts layout. Basically, there is a chart of account layout that you can adjust accordingly. Simply go to Chart of Accounts, and now I'll double-click on it. Now you can see that these are profit and loss items. And this is called, this is the configuration. Product sales category is from 4 thousand to 4,099. Export sales is 4100 to 41 double line. And similarly all of this. But I want to edit assets so I'll go to balance sheet tab. Now here, property is from double 0102019. Plant and machinery is from Grundy. Twenty-nine thirty two thirty nine, and fifty to 59. This is the maximum categories defined. So in order to create a new fixed asset chart of accounts with 60 cord, I need to create a category for it. Also. Lets make it machinery. And it is double 060 to, let's say double 080. So as soon as you enter this, you will notice that it will automatically be adjusted in the balance sheet. Report layout preview. So just select that and save it. And then close it. Now let's try to create the ledger. Go to nominal record, double 060 c. Now it allows the new account will be created. And it is machinery, let's say sample account and save it. So it is here. So that's how you can create new chart of accounts as well. In sizzling 50. 9. Power of Ledger Creation Wizard: In the last video, we have seen that chart of accounts has some categories. If I go to chart of accounts, then you can see that property is double 0102019. So if I accidentally create a new nominal in any of the 0 cords, it will be categorized under the wrong category in balance sheet. So I cannot just go here and click on nominal record and just start creating by whatever area is free. For example, double 061 is free. So even if I create it in doubles, double 061, and name it as Dubay property. But according to the chart of accounts layout, that will be categorized in machinery because clearly states that machinery categories double 0602080. So anything which is created under this category will be classified in the balance sheet and shown as machinery. So that is a little bit of problem. Even if you know the area, you cannot just randomly give any chart of account code. So in order to manage that very effectively and easily, you can use a new nominal feature instead. So what I'll do is I'll just click on it. Okay, the quality of this wizard is that you can mention any ledger name. And it will ask you for the type. Just select the type. And it will ask you where the category. So if I select the property category, it will automatically suggest you the nominal code that is not used, double 012. But if the category is little bit different, for example, furniture and fixtures, it will automatically change it to the nominal code that is available under furniture and fixtures getting ready. So this is the most accurate way of creating a new lecture. So let's create this one. Next. It will ask you that you do you want to place the opening balance? I don't have the opening balance right now, so I'll click on No, there is no opening balance to enter and create. So you can notice that it will automatically be created under the relevant category. And even if it is seen by the analyzer, it will show under proper category that is total fixed assets. And under total fixed assets, there is a property category in which it is mentioned. So this is another way and most effective way of creating letters in sizzling 50. 10. Entering Ledger Opening Balances: Now that our ledgers and their customization according to our assignment is done, the next step is entering the opening balances. But before entering opening balances, Let's understand that seed functionality is little bit different. Normally in all the softwares, all control account balances don't need to be updated in individual letters. For example, receivable is one leg, 50 thousand. So you don't need to update that because when you enter individual customers, it will automatically be updated in control accounts. This is same in seed, but for inventory it is little bit different. For inventory, you need to manually placed the balances. So I'll just ignore these two balances. Don't worry if you don't understand this point. You will automatically understand it later. So let's start from stock and inventory balances status 900 thousand. Now, the breakup is definitely given in the inventory details, but individually balanced also needs to be adjusted. To enter any opening balance, go to the relevant later. Now in this case, stock is my relevant later. So I'll just double-click on it. Now, I'll just click on opening balances. As soon as I click on it, it will show us a new window. References is already set to opening balance as of 1st of January 2020. And since it is on debit side, inventories and asset. So I'll just mentioned debit balance as 900 thousand. Now, be careful with the zeros because it doesn't show comma separators. While entering the data. Just save it. And you can notice that it shows it under January and then just save it close. So this balance will appear under debit side. So this is how you please each individual ledger balance. Similarly, next is land and buildings. So I just unselect this. Just click on it again. It will unselect that. And let's double-click on land and buildings. Click on the balance. Same method will be followed for January 2020. And the balance for land and building is it like fifty thousand? Eight, fifty thousand is my balance. And save it. Save and close. Now, our next balance is one leg, 30 thousand accumulated depreciation of land and building. So I need to unselect this one. Just click on it again. It will unselect, Select the other account and double-click on it. Click on balance. 1st, January 2020. And the balances. One leg, 30, thousand. Save and Save. Close. Next is motor vehicles. So just select motor vehicles and balances off first of January 2020. And balances for like 50 thousand, Save, Save and Close. Now next is accumulated depreciation of motor vehicles. So Accumulated Depletion motor vehicles balances 72 thousand. So just double-click on it. As of 1st of January 2020 and balances 72 thousand as credit. Save, save and close. Next is machinery, Bulaq, 90 thousand. So here is plant and machinery. Just double-click click first of January 2 thousand and grindy and balances to like 90 thousand to 90 thousand. See, Save and Close. Similarly. Next is accumulated depreciation of machinery that is 50 thousand. So just unselect that, select this one. Double-click first of January 2020. And balances 50 thousand. Save, Save and Close. All right, next is cash. So this has cash in hand. 1235 is scored just double-click. And as of 1st of January 2020, and debit balance is 694730. Save, save and close. Okay. Next is Standard Chartered Bank wondered 67410. So just searched for Standard Chartered Bank, 100 relevant headquarters. And double-click the first of January 2 thousand and grantee and genes the balance to one or 2674101867410, Save, Save and Close. Next is Euboea. That is united Bank Limited. So double-click. First of January 2, thousand and grantee balances 2763, double line. 2763, W9, Save, Save, and Close. Now next is capital. Just double-click on capital. And first of January 2020 and balances 4,800 thousand as credit. The stickier of the zeros, 4,800 thousand, save and save and close. Normally, some of the softwares follow accounting equation. Accounting equation is assets equal to liability. That means if you want to extract capital, assets minus liabilities will be the formula. That means whatever software follows accounting equation, in that case is only assets and liabilities needs to be mentioned in the opening balance and it will automatically extract capital balance. But it is not the case in C sieges, little bit different. So I just put the balance manually. Now, last balance is accrued expenses, that is a liability. 68539 is the balance. So I'll just find it. Let me just find it under two. Category. Two is for liabilities and 2109. Here it is. Just double-click on it. First of January, 2, thousand and grantee and balances 68539. Let's check it once more. 68539, Save, Save and Close. So all of our balances are now entered. In the next video, I'll explain you how to check trial balance reports and different reports in siege. 11. Extracting Trial Balance: Now, if you want to extract any financial report like Trial Balance, Balance Sheet, Profit and Loss, you can go to financial reports section, which is just underneath nominal ledger. Just click on it and it will open this window. Go to trial balance. And Peter, trial balance, just double-click on it. So you can see for any particular month. But let's just keep it to December because we have only entered January balance. So it doesn't make a difference if you enter January or December, whatever it is. So let's say we select January and click Okay. It extracts this later. Now, all the ledger nominal codes, their names, and their debit or credit balance is there. You can, again check if all of the balances looks okay. But at the same time, you will notice that there is one extra account that is suspense account and it carries a balanced which is one double 9946. That means approximately 200 thousand. So what is the difference? Why is suspense account there? Because debtors and creditors balance is still not updated. So if you calculate the difference between the debit and credit, three lakh, 50 thousand is credit, and 150 thousand is debited. So if you minus this figure from this figure, it will be 200 thousand. So that is the difference which we will solve in the coming video. So that's how you extract the trial balance in sizzling 50. 12. Rectifying or Correcting Ledger Balances: Now, if you notice that the suspense account is not exactly 200 thousand, but it should be exact 200 thousand. That's because we have made a mistake in accruals. Accruals balance was 68539 and it states 68593. That means we need to adjust this ledger balance. So how can we adjust that? Let's see if I double-click on it again and click on this balance. So what it will do, it will show us the opening balance field, but there is no option to change the existing balance. Let's try first of January 2020. And let's just mentioned the difference in the debit side. Let's see, 68593. Put a minus sign or open the calculator minus 68539. So the difference is 54. Now, I need to reduce this balance from the credit side. So I will adjust 54 on the debit side. Let's save it and check if it works. Save. Now the balance is 68539. This is the most easiest way of adjusting the balance. Let's take the trial balance again. Calvinists and Peter, trial balance and click Okay. Now it is correct. It shows exactly 200 thousand in the suspense account. So that's how you can make corrections to your ledger balances. Now, doing the assignment, if any editor arrives, I'll explain you how to resolve it. And it is actually good for us because only this way we will learn in the most practical way how to correct the problems as and when they arrive. 13. Creating Customers and Vendors With Balances: Alright, our next step is to create a customer and entering their balances. Now creating a customer in sage named 50 is very simple. Just go to customers tab and in the customer's list. There, I can use both of the options, new customer or customer record. When we talk about new customer, it is little bit time-consuming to enter all the customer details, whether or not if even if you don't need it, you have to pass through all of them. So instead we will use customer record. Now why customer record is better? Because it has a different options in that form. So whatever tap you need, you will just go directly into that tab and enter the relevant details. You don't have to go through all of them. Now, our first customer is Bashir. So we will just enter account as C 100. This is our account name and the name is Rashid. Now balance is just click on that balance and click Yes. And reference number give any reference number you like, one double 01. And as of 1st of January 2020, it is an invoice with a total balance of 50 thousand. So I just enter 50 thousand here. Just be careful with the zeros because it doesn't show commas when writing the amounts. So just save it. Now you can select any country for the currency. And after that, you will go on to defaults and make sure that default nominal code is selected as seals type a. You can change the name of this but make sure that it is under 4 thousand or any relevant sales letter that you like. Since in this assignment we are not using any taxation, means sex is not involved in this assignment, so we will just mark it as T9. That is out of scope. Let me just scroll it. Select D9. Now, in the credit control tab, there are different credit limits. Option means if you were to set a credit limit for a particular customers and settlement days, how much in how much time it will set, the dues will get settled and different terms and conditions. But even if you don't want, that means for this assignment we're not using it. But in any case you have to mark terms, agreed. This is compulsory. Otherwise, whenever you enter any transaction, it will show you an error message that terms have not been agreed from this customer. So make sure you check that. Okay, let's save it and close. So this is how we entered our first customer. Now for all the future customers, I want some of the default settings to automatically be applied so that I don't have to go in great control and manually check terms agreed for all the customers. This should be done automatically. Now for that, I'll go to Settings tab and go to customer defaults. Now, here I have all the default options. Country will be selected, United Kingdom, any country you want to select, you can change that. And standard texts scored for all the customers. Let me just set it to T9. And default nominal code is 4 thousand. And dumps, agree. Now, these are the default settings for all the customers. It will automatically be applied even to the new customers. But make sure if you have already entered some of the customers. The moment you set or change the default, it will affect only the future customers you start creating. For the previous customers, you have to edit the settings manually. Click Okay, now let's create our new customer. Let's go to customer record. Now. Second customer is C2 100, and customer name is Abubakar. And click on the opening balance. Yes. One double 0 to plus 2020 and the amount is 60 thousand. And click Save. Now go to default step to check whether the defaults we said is applied. So you can see that we don't need to change it from D1, D2, E9, and undegraded control terms is already exited. So this is how default settings work. Save it, close. Now let's go to customer tab again. Then is C3 100. And customer is Moby-Dick? Yes. One double 03, first of January, 2 thousand and grindy and balance is 40 thousand. Save it and save and close. Now let's enter suppliers. But for entering the supplies, Let's go to Settings first. And under supplier divorce, change the settings to T9. This one. And terms agreed for all the vendors and click Okay. Now go to the supply record. 100 is our first rendered and name is Danielle. And balances. I guess. One double 01 as of 1st of January 2020. And the amount is a 100 thousand save. And you can check the great control and default step as well. Save and close. Now go to supplier record again. V2 100. And it is shied. Click yes. One double 0 to first of January 2020. And amount is 250 thousand. And save and save close. So this is how you can enter supply balances and customer balances in C is length 50. 14. Entering Opening Inventory: Okay, now let's enter our inventory details. If we check on the company a tab in the nominal ledger, we already entered the stock balances, but the stock quantity is not updated yet. It is only the ledger total balance. So we need to insert inventory and enter their quantity separately. And this is particularly for CH, this is not applied in all other softwares. All other softwares have different functionality. So I'll go to products. Now let's enter the inventory. I'll go to product record because this is most convenient. It 001 and item type is stock item. And our first item is cooler green screen. So just copy that and I'll paste here. Now, defaults are automatically set for seals and for purchases. If it is sales, it will go to 4 thousand code, that is sales ledger, and then we purchase it. It will go to 5 thousand ledger, which is material purchased. Now, all the other settings will remain the same. Just change the tax code to D9 and you can set defaults for this as well. And now click on Install and you have to save the changes first. And it is opening balance. So first of January 2020. And let's enter the quantity. Quantity is 40 and our cost price is Greg Thomsen. Save, save and close. Our first record is done now. Now let's enter all the records. I'll just enter it quickly. Next is civic headlights. X-squared is T9. And in stock? Yes. As of 1st of January, quantity is ten and radius 35,010. Let's check the rate again. Thirty-five thousand. Save, save, and close. Now let's enter the third inventory. Go to product record again. It 003. Okay, Next is Sudoku VLookups. Let's copy this. I'll paste it here. And item type is stock item and tech scored. I'll change tax code to D9. And in-stock is just click on it. Yes. It is. As of 1st of January 2020, quantity is 40 to 50. Save and save and close. Now go to productive God again. And IT 00 for Suzuki's your lights. Stock item and tax code is D9 in stock is just click on it. Click yes. And it is as of 1st of January, two thousand and twenty hundred is quantity and radius. 600, Save, Save and Close. So all of our records is done. This is how you enter inventory in C's line 50. 15. Entering Cash Purchases of Fixed Assets in Sageline 50: Okay, now our opening position is clear. That means we have already entered all the letters and all the customers and vendors and inventory all are done. Now, this is the point when we have implemented the siege for free software, means we have shifted from any other software to save 950. And now we will enter day-to-day activities in stage. Now, as far as accounting software is concerned, whatever angry you will make, whatever area you will use, it will automatically be posted as a journal entry. That is the basic theme of any accounting software. Because obviously at the end of the day, all the entries will be made in a journal entry form. But for software, remember that we will only use journal entry feature directly if the transaction is known trading and non-cash. I'll explain this later, but just make a note of it that we will only enter it from journal entry when the transaction is known trading and non-cash at the same time. Just ignore this area's don't follow this one. So for this transaction, this transaction is purchase furniture by giving cash. But if we see our business, our business is off buying and selling car parts. That means furniture is only purchase for our own office. So that's why it's the non trading. But it is not non-cash. It is based on cash because we're paying it by giving cash. For that there is a proper area in sizzling 50. For such transactions, I'll go to bank. And under the bank, I'll click on cash in hand because we are making all the payments by cash. Now there are two options to make the payment. Either we can choose bank payment or supply agreement. Remember that supplier payment will only be selected when there isn't a vendor invoice. For that. For example, we have entered any trading vendors. Most of the times only trading ventures are entered. So we have entered a vendor and purchase something from it against an invoice or there is an opening balance. So in those cases, supply attribute is used. But if you want to purchase any furniture or anything like that, I'll just choose cash in hand and go to bank payments. Now the transaction is of third January 2020. So this is third January 2021, double 01. You can use any reference. Now let's select furniture here. I have double 0 for 0 as furniture and fixtures, just choose it. If you don't want to use these features, they are department project reference, other features like that. But we don't want it right now. So I'll just right-click on any of the headings and just uncheck all the non-relevant fields. And we need details. So we just copy this purchase furniture by giving cash narration. Copy this, and paste it here. Now our courses, 200 thousand D9. Because tax is not applicable. So just save it. So this is how we enter bank payments kind of entries in seizure. 16. Handling Prepayments: Okay. Next transaction is of for January 2020, and it is advanced rent paid for six months by giving cash. And it is according to 5 thousand per month, which totals up for six months for 30 thousand. Now, in accounting terms, if we pay our future related expense, which haven't been taken benefit of advancement, we have not yet taken the benefit of the building that we're taking on rent, we're paying all the rent in advance. That means it is a prepayment which is considered as an asset in accounting terms. Now, if you don't know the concept of prepayment, you can just Google it. What is prepayment? Just write it on Google search and you will see a full article on that explaining what is prepayment exactly and how to treat it in accounting. So let's enter it. This like cash in hand. And similarly, I'll go to bank payments. And date is for January 2021, W2. And advancement because it is an asset, let's search it in one area. Double 013 is preparing scored. To select it and click Okay. Now the deals are this advanced, aren't paid for six months by cash. Let's copy this and paste it here. And total amount is 30 thousand. Just make sure that the zeros are correct and then just save it. So this is how we enter three payments, nsaids, length of three. 17. Dealing With Security Deposits and Indirect Cash Expenses: Okay. Our next transaction is security deposit paid by cash for sharp, they can own rent. Now this is other asset kind of thing because this is not fixed asset exactly. And this is also not exactly going to desert. So let's check, I'll check cash and then go to bank payments. And as of 1st of January 2021, double 034 security deposit. I can check on one area because I already know that it doesn't have security deposit account, so I can just click on New. But here's one problem. As I discussed with you earlier, that there are certain categories that are assigned in sizzling 50. So we cannot just choose the category or choose the right area for that. So it's better if you just cancel this and go to Company and nominal ledger and create a new nominal and then right security deposit. Now, let me tell you the benefit of it. I'll just choose the relevant area. Okay, for now, Let's see its current asset. And the category will be, I'll choose deposits and gash. It will automatically give a number that is available for that relevant account. Select Next. There is no opening balance just created. And then go back to banking and bank payments. Now, other part is similar, just enter that element did that is for January 2024th, January 2021, double 03. And security deposit. Security deposit. Click Okay. And let's select the transaction details. Paste it right here. Net amount is 30 thousand and Xcode is D9 obviously, and save and close. Now this is also done. Similarly. Our next transaction is paint and renovation. Expenses of sharp. They can own rent. Now, this is an indirect expense which will be found under 7 thousand code according to our rules of the Chart of Account coding. But it is not mentioned that from which source it is speed. So we will assume that it is on cash basis. Whenever it's not mentioned. Most of the times it is on gash. So bank payments. And transaction date is six January 2020. And references one double 0 for go to 7 thousand cord. And let's choose the relevant area. I'll use the repairs and renewals that is 7800 code. And click Okay, you can dedicate type 7800 because I already told you. So you don't have to spend a lot of time to search it. Anyways, the transaction, Let's copy this and paste it right here. Now, total amount is 5 thousand and tax code is T9. Now let's save it and close. So all of our bank B's transactions for which bank payments feature is used is done now. Now we will move to our next transition, but just practice it. All. I want you to follow one-by-one step-by-step. When I do something, you do exact same thing. So just follow until this part, do it by yourself. And let's move to the next video. 18. Dealing Against Customer Pending Invoices Settlements: Our next transaction is Mr. Mubarak period. All previous balance by giving us cash amount is 40 thousand and date is seven January 2020. Now, since this is our customer balance, which is appending opening balance. So we will use the banking area. But under the banking area, I'll go to customer receipt. So as it is settled by cash, I already choose cash in advance. So it is already selected here. Now let's select the customer and click Okay. And transaction is off seventh, January 2020. Now this is the pending amount that we need to clear. We have two choices. Either we can mention all the amount here that is received. But if we have received all the amount in full, just click on pay in full directly. So it will automatically pick up the amount. You don't need to change anything. So give any reference number and save it and close. So this is how we can deal customer receipts, incision line 50. 19. Entering Purchase Invoice: Our next transaction is off a January 2020 and transaction sees purchase of falling items from Mr. Danielle. Now we're purchasing all these items from a particular vendor, but we are purchasing it directly. As you all know that there is a complete purchase cycle in which the particular inventories purchase. First is purchase quotation than is purchase order received deliveries and then gums, patches in ways. But it is not necessary that company is falling the whole cycle. We can directly enter purchase invoice if it is received directly, or we have the regular supply from this vendor. So there is no need to follow all the purchase cycle. But in sizzling 50, it is a problem that even if it is a direct purchase, you have to follow the whole purchase cycle. And this problem is because sizzling 50 is purely a bookkeeping or bad management software that is used in UK. It is not very good for inventory management of any kind. So that's why we need to follow the whole procedure. Let me show you how it is done. I'll go to seed and under the supply step, first of all, I need to create a new order. Now, regardless of that, that we already don't have an order. We already know that. But still you need to enter the order. You can mention any reference number here. And date is January 2028. January 2020, and account is V 100, that is Danielle. And these are the items that we need to enter. First is cooler windscreen. Quantity is trendy. Prices, drug thousand. N total amount is 240 thousand. Similarly, civic headlights. Second one is this quantity is grantee. And net amount is this. Similarly. Third item is Suzuki VLookups. Quantity is 50, and it is already mentioned. So it rotates 12,500. Now, here comes the next item. That is a new item, which we don't have it before. Suzuki filters. So let's enter that our browser and click on new from here. Now this is item number 5005 and it is our stock item. And let's copy the name. Let's copy you will indeed the name. I'll paste it here. And x squared is D9. There is no opening stock. Remote will always remember that during the transaction, after the opening balances are done, you will never enter opening balance for any ledger or any inventory or any customer. So just save it. And click OK. Now quantity is 70 and radius to 5070. And since we haven't mentioned the rate, so I have to mention it manually now. And 250 is the rate. So this is our total, 17,500. And now we will save it. So you can click on order now, do you want to print this order? No. What you can also just do, simple, re, complete, and click. Okay. So anyways, I've selected this. So now I need to go in purchase order list and this is on order. So I have to receive the deliveries. Click yes. Ventilator. Now, the delivery is complete. This is the whole purchases procedure that we have to follow. Purchase purchase order then is deliberate received. Now finally, after completing all this, I'll just update the latest. Now, when we come to update ledgers, just click on update and change the date for all of these because it is showing the current date. So I'll change it to eight January 2020. And if you don't want to change the date for all of them, just go to down field and click F6. Similarly, F6 here, and F6 here. So all this is done. Save. If you're already into the project reference, click Yes to continue. Now you can see posted y. That means it is finally posted as an invoice now, so this is the complete and complex procedure of entering an invoice in C is 1050. 20. Entering Purchase Invoice for New Vendor: Our next transaction is off nine January 2020, and it says but she's falling items from Mr. Martin, that is a new vendor. So the purchase procedure will be same, but the vendor is different. So I'll go to Sage, go to the suppliers tab. And under the supplier tab, I'll click on New Order. So date is nine January account. I'll create a new one. Browser and click New. Now this is rendered 300. And Margaret. And since we have made all the settings, it will automatically integrated control tab. You can notice that terms have already been agreed, so all settings are okay, just you need to mention the gourd and the name for the new vendor. Now save it and click Okay. Now let's enter the products through login screen 50 thousand is the red curve, lobbying screen 50 and rate is 12 thousand. So total is sixty thousand. Six hundred thousand. Next is civic headlights. So let's select civic headlights. And quantity is 30. Rate is 35 thousand. Just make sure that the read is properly checked because sometimes we purchase at a different price from a different vendor. So this is done. Now Suzuki filters. Next item is Suzuki filters. So just choose Sudoku predators. And quantity is 100 and radius to 50. So this is done. Now to save this, I'll follow a different procedure. Instead of saving it, I'll click on Complete. That's because it follows the two processes you've selected. As you can notice that it says a message you have selected to complete this ordered in full. Are you sure you want to continue? Yes. And do you want to record the delivery yes. Ventilator? Know what this company does. If you go to suppliers tab and click on purchase order list, it will be automatically placed. The order will automatically be placed and receive deliveries are automatically done. So that means if you click on Complete, it automatically complete these two procedures, which saves a lot of time. So finally, you need to do is update letters. Click update, just changed the deeds. And click F6. Now click on this and click F6 and save it. And click Yes. Now this is also posted. So that's how you enter the purchases for the new vendor in seed. 21. Dealing With Cash Sales: Our next transaction is of 11 January 2020, and it says cash sales of gorillas screen means we're selling one girl having skin. In cash means in retail. It is a normal practice for the companies to seal to the regular customers, but they seal to cash customers as well, means walk-in customers. Walk-in customers change regularly, they are not your regular customers. So that's why we don't book unnamed for the customers because they are not repeated customers, right? So the simple treatment for this is go to Sage. Good customers and click New invoice. Now, change the date, 11 January 2020. And under the account I'll create a special customers. Click new. Since this is a specialty customers, that is cash customer. So I'll put accord C99. And this is catch seals means to whatever customers we're selling, we will book all the gas sealed under one imaginary customer that is castles. Click, Save, and click. Okay. Now v are selling through login screen. So quantity is one price you have to manually mention. And then to save it, I can click on Save, but if I click on Save, it will consider it as a credit invoice and we have to separately received the payment for it. What I'll do is after completing invoice, just click on cash sales. And it will show you the prompt that do you wish to complete this invoice as a cash sale? This action will automatically update stock, post customer's invoice and sales receipt transaction. That means the stock will be updated customer invoice and against that customer invoice, sales receipt means cash will automatically be received. So this is the perfect treatment. Click Yes. As soon as you click Yes, it will open our report tab, disclose it, and close this. So this is how you deal with cash sales in CS length 50. 22. Dealing With Customer Advances : Our next transaction sees receive cash in advance from Abubakar. Now, who is Abu Bakr? Abu Bakr is our customer. So why customer is paying you in advance? Obviously, it will be against any future order. So if you notice the very next transaction, Abubakar is placing a big sales order of nearly six lakh, 52 thousand. So against that order, he is giving us some advance, like 50% of advance so that we can start working on has ordered. So how this advanced will be treated. I'll go to Sage, go to bank. And under the bank, just click on cash in hand and click on customer receipt. Now here click Abubakar, selectable worker and click Okay. Now, as soon as you select this customer, you will notice that there is an opening balance of invoice spending that is 60 thousand, but we are receiving a fresh advance against the future sales order. So that's why we will not allocate this receipt and settle off with this invoice. Instead, what we will do is just change the date. January 2020. Just statically mentioned three-legged 78 thousand as advance, and mentioned any reference number. And then after completing this click Save, As soon as you click Save, it shows a prompt that there is an unallocated check balance of three-legged 78 thousand. Do you want to post this as payment on account? Payment on account simply means that you are receiving the payment from the customer, but it is not against any voice. Rather, it is payment that shouldn't be allocated to any of the invoice. So in advance, this is the perfect treatment. Just click Yes and click Close. So that's how we deal with customer advances in sewage line 50. 23. Dealing With Sales Order: Okay. Next transaction is of January 2020, and transaction is seals order received from Abu Bakr or the number is 55. Now, how will we book this on siege? I'll go to customers and the customers click on New Order. The procedure is almost the same, but this time we will not complete the sales order because it is a pending sales order that will be converted to invoice in future. So order number I'll mentioned it manually or the number is 55 and date of the transaction is January 2020 and the customer is Abubakar. Now, items are crew Lewinsky, quantity is 1215 thousand is the price. The other items are civic headlights, 1047 thousand. And next one is Suzuki fetus, 5405400. Now total is 652 thousand. Just reconcile it once. And after that, click on Save. Now, as soon as you click on Save, it will ask you, do you want to allocate the stock for this order so that yes, we will allocate the stock. Click allocate now, close. And you can now see in sealed order list. Now allocate. It means order is not just a draft order. Instead, it is completed in an allocated in full. Now, it is only waiting for the dispatch and after that conversion to the invoice. So that's how we book sales order in siege. 24. Entering Sales Invoice: Our next transaction is sales made of falling items to Mr. Bashir. Now, if you notice it says seals made, that means it is a direct sales without any sales order or anything like that. So we've seen earlier that even if the purchase is direct purchase, you have to follow the full purchase cycle, that is purchase order, then G RN. And after that you can pass the purchase invoice, but in seals, it can be made directly. The procedure is very, very simple. For sales. I'll go to customers and go to New invoice. Since this is a productive invoice. So I'll keep it to product, keep invoice number to auto number and duties 14th January 2020. And seals is made to Mr. Bashir. Select Bashir. Now select all the items. Grew up in screen. Quantity is five. 16 thousand. Civic headlights, 1046 thousand. So keep it as foreign for free. So total is 541800. Now, let's save it and close. Now let's go to invoice list. You can see this invoice, but this is still our draft and waste which is not posted. So in order to change the post-trip status to yes, I'll select this and update letters and click. Okay. So this is the last step that you need to perform only. So you can see the report. That's how you can post sales invoice directly in C. 25. Dealing With Direct Purchase Order : Our next transaction is of 17 January, and it says race purchase order to Mr. shied and order number is 49 for these particular items. That means we have ordered these items from this vendor. You have noticed earlier in seed that even if we want to raise direct purchase invoice, we have to follow the full purchase cycle. That is, you need to enter the purchase order, then convert it to GOARN, and then convert it to purchase invoice. But this is directly only purchase order which will be pending until it gets matured and gets delivered, which we will see in future. So that's why we will only follow the first step of the procedure that is raising the purchase order. So I'll go to siege. Click on suppliers, click on New Order. Now supplier is shied. Order number. We already have that 49. And change the deed through 17th of January 2020. Now let's start entering the items. Now. Just notice that before read was 35 thousand, but from this particular vendor that it is up to 54 thousand. So you have to manually change that. So that's it. After that, click on Save. And you can click on order now. You can save it for draft two order later. So if I click on order later to save, this purchase order has dropped. Just to make a second confirmation from your purchase manager or any of your senior. So after the confirmation, if you want to forward this order, just go to purchase or the list and select that particular purchase order. If the two of them gets selected, just unclick by clicking it again and select only shied, and then click Place Order. You can notice that on order it says nothing. But when you click Yes. Please. All the items on order. Yes. Now close it. So now you can notice that it is on order. That means from draft that means from draft purchase order. It is forwarded as a proper purchase order. Status has changed. That's how we deal with purchase orders. In siege. 26. Dealing with Bad Debts: Our next transaction sees Mr. Abu Bakr didn't pay the due amount. That's treated as packets. So amount is 60 thousand. Now, if you're thinking that Mr. Abu Bakr is the same customer against which we have received at once. But this is only an assignment, so we will not consider that advanced for now. This 60 thousand. What we need to create a better fit for is against its opening balance. So don't consider advance. Here. This is just an assignment. So I'll just follow the treatment for the bad debts. I'll go to customers. And under the customer list, you can notice that Abubakar is here and the balance is 318 thousand in minus that means we have already received advanced. Now to settle the bet, it's I'll just select that customer and click on customer write-offs or reference, which is on the left side. Here, I will see. Here I can see many options. You can either customer invoice reform, you can reform the invoice and check returns, credit nodes, account, refund, customer accounts. If you want to settle the whole customer account against padded, you can select this. But for this particular transaction, I'll select right of customer transaction because I only want to settle that opening balance 60 thousand against which I want to make the debt bad debts. So I'll just select the account of Abubakar and click Next, and then select this particular invoice, which I want to make padded, and click Next. Now the deed for the entry is 17th, January 2020. And additional reference is you can say bad debt 001. Click Next. And it finally show the complete entry as a preview, and then just click post. Now you can notice that what we only have is three lakh 78 thousand, which was the advance amount. If you want to see the whole activity of this ledger, just select this customer and click on activity. So you can notice that 60 thousand was opening balance and it was made as a bad debt on 17 January. So that's how we read bad debts in Sage. 27. Dealing With Purchase of Services: Next transaction is of 18 January and it sees backing charges invoice received from Mr. Ali. That means Mr. Elisa, new vendor against whom we are purchasing a service status packing charges, be already know that we're dealing in a kind of inventory that is very fragile. It has chances of breaking. So that needs a special packing. Soviet purchasing this packing services. Now, purchasing or services means we are not concerned with whatever items like Thermopylae cartons, whatever they please as a backing material. That is not our inventory. We're just directly paying him against the service. So how will we deal with service invoices? I'll go to suppliers and under the supplies, I'll go directly to batch invoice. Batch invoice is only for the areas where we're not maintaining the inventory in quantity. So just click Browse on the suppliers. As this is a new supplier, I'll click New. And this is V 400 and name is Ali. Just save it. And select. Transaction data is 18 January 2020. Mentioned any reference number. Now, nominal code is five double 03, that is, that is packaging and it comes under cost of goods sold. Remember whatever items or whatever extra cost you incur on the inventory items, it will be considered as a cost of goods sold. Now, all the other columns we don't need, so we can uncheck that. I'll just right-click and uncheck department on Jack project reference and uncheck cost code. You can mention the notation here. Just copy this and paste it right here. Now, total is 45 thousand, and this comes under T9. That is outside the scope, means that is not applicable in that particular invoice. Just go ahead and save it and close. So that's how we deal with. But she is of service invoices in Sage. 28. Dealing With Partial Settlement of Supplier Payments: Now, our next transaction is of 18 January, and it says paid Mr. Ali by check off Standard Chartered Bank. Now, in the previous transaction, we entered the invoice for Mr. Lee and that was for 45 thousand. But we are doing a partial settlement like 30 thousand. We're not paying the full amount. So how can we deal with this partial settlement in Sage? Let's see. I'll go to bank. And under bank, I'll go to Standard Chartered Bank. Just select Standard Chartered Bank and go to supplier payments. Now, as v of already selected here, the bank, it will automatically pick up the bank here. And now I will select Mr. Ali. Now, as soon as I select it, it will show a full pending amount of 45 thousand. But here we have to manually enter because we're doing a partial settlement. So you mentioned 30 thousand and give any check number four now because we don't have any check number mentioned. And change the date. That is 18 January 2018. 18th January 2020. And click on save and close. So that's how we deal with partial settlement of supply payments. 29. Converting Sales Order to Sales Invoice: Okay. Next transaction is of 19 January and it says send all items to Mr. Abu Bakr against previous sales order. If you remember, we have entered sales order for Abubakar. That is this. Now we're delivering these goods to the customer. So that's why we need to convert seals order to sales invoice. How can we do in seed? Let's see. I'll go to customers and under customers, I'll go to links and go to seals order list. Here you can see that Abubakar has been entered as a sales order, but it is not dispassionate. So I'll just select this and click on dispatch orders because we are delivering the items. So delivery node is the first step in stage. So do you want to print the delivery node? If you don't want to print click No. Let's click No. And just click yes and then print later. So as you can notice that in under the dispatch column, it says complete. But this is the delivery node. We need to convert it now to an invoice. So I'll go to invoice list. And under the invoice list, you can see that this is a pending invoice that is already been made, but it is not posted yet. So I'll just select it and click on Update ledgers and click Okay. So it will show you the preview of the whole entry that it makes in the background. So just close it. So that's how I can deal with conversion of sales order to sales invoice in Sage. 30. Dealing With Purchase Returns: Our next transaction is off 20-second January, and it says return ten cooler green screen to Mr. market. That means V are returning items to our supplier back. And that is a purchase returns at rupees 12 thousand per unit and we're returning ten crew labium screens. Now, as far as C is concerned, it is a two-step process in Sage. First, we have to adjust the value as a total, and then we will end. And then we will adjust the quantity of items. So I'll go to siege, CO2s, supplies. And under the suppliers select supplier list. Now first of all, select the vendor, that is my budget, and click on batch credit. This is to adjust the value of invoice. So as I already selected model that already is selected here, just change the deed. That is Grundy second January 2020, mentioned any credit number for now. And just uncheck all the unnecessary columns. And you can mention the notation here. Copy and paste. And via returning ten items at 12 thousand per item. So you can make the calculation as well. What example I mentioned the rate well, thousand and you can open this calculator after that and multiply it by ten and click equal to. So it will automatically convert it to 120 thousand. Now, this is only the value adjusted quantity is still intact. So I'll save it. As I told you before, that sees is a bookkeeping software. It is not very efficient in inventory management. So there are lots of steps which needs to be followed in a long process because this is a purely bookkeeping software. So I'll just save it and close. Now, the second adjustment is product adjustment, quantity adjustment. I'll go to products. Since we are returning the ruler in skin, I'll just select login screen and click on Adjustment out. Now, whenever you select any item earlier, as soon as you open the document, it will automatically pick up that item. So I'll just have to mention the quantity. And did mention any reference number. Just uncheck the unnecessary fields or you can keep it as it is. You just mentioned den. So current quantity is 92. As soon as I save it, it changes to a T2. So this is the full procedure of purchase returns in Sage. 31. Dealing With Sales Return: Next transaction is off Grundy for January 2 thousand grantee. And it says return five civic headlights by Mr. Abubakar that is sealed written. That means our customer is returning the inventory to us. So that will increase our quantity. So that is a sealed written at 47 thousand per unit. We will follow the exact same procedure as we did in the budget is written. This is a two-step process in which firstly, we will adjust the value, and after that we will adjust the quantity of it. So I'll go to see it. I'll go to customers this time. And in the customer list, I will select Abubakar and click on bad credit. So I'll change the date. That is 24th January 2020. Mentioned any credit number. And you can uncheck this fields and or if you want to keep it as it is, you can just keep it. I'll just copy this narration and paste it right here. Now similarly, 47 thousand into five, I'll make the simple calculation in CH calculator 47 thousand. Just browse the calculator, multiply it by five and click equal to. So this will convert into our total value and then just save it. And close. After that, I'll have to adjust the quantity. But this time it is a quantity in because customer is returning the inventory to us. So this will increase our quantity. And the item is civic hydrides. So I'll just select civic edit now as you can notice that it select both of the items. So just unclick this by clicking it again. So this will only select the civic calculate. After that. Click on it just meant in. Now just change the deed. That is green default January 2020 mentioned any reference number and the quantity as five at the rate of 47 thousand. Now here it mentions 35 thousand. Now here it says cost prices 35 thousand, but don't, but don't try to change it because this is just a cost price. We will keep it intact. We have already made the adjustments in the value. So you will not change that because this is an average cost which is automatically picked up. So I'll just change the quantity and then just save it. So that's how we deal with sales return, incision line 50. 32. Full Customer Balance Settlement: Next transaction is off 25th, January 2020, and it says Mr. Bashir cleared all his previous balanced by giving us cash. That means Mr. Bashir, our customer, is paying against all invoices in full. That is a receipt voucher. So this is very easy to deal in CAH, I'll go to bank. And since it is paying by cash, So I'll just select cash first and go to customer receipt. And it is Mr. Bashir. So select Bashir. As soon as I select Bashir, I can see two pending invoices for that. So he's clearing us on 25th of January 2020. So just change the date. Mentioned any reference number. Now as it is being all the invoice in full. So just select the invoice and click pay in full. So as you can see that it automatically picks up the receipt in full amount. And similarly for the next clickbait, pay in full. So both of these are settled in full. Now save it, save it and close. But then just make sure again that if you select customer receipt and select Bashir, it should not show any of the pending invoice because it is settled in full now. Similarly, you can check in customers, in the customer list, it should show as 0 balance for Bashir. So that's how we settled customers balances in full in C. 33. Converting Purchase Order to Purchase Invoice: Our next transaction is off 26 January 2020, and it says, Mr. Sheets and all items against previously issued purchase order. That means that we are converting purchase order to purchase invoice, just like we did in the earlier transition. But that was sealed order converted to sales invoice, but the procedure will almost be the same. I'll just explain you how it is done. I'll go to suppliers and go-to purchase order list. Now you can notice that for shower head, this is on order, but this is not delivered yet. So I'll just select this and click receive deliveries and click Yes and print later. So it is changed to delivered. And under delivered column it shows complete. Now the final step after the receiving of delivery is posting of invoice. So until this step, it can be said as GOARN good receive node. So when you want to convert to invoice, just select this and click on Update letters. Now, as you click on Update, it will show you this prompt. Click Update. Now before saving, I have only. Now before saving, I only have to change the dates. So let's change the date quickly. All of the transition is for Grundy six January 2020. So let's change to 26 January 202026 January 2020, 26th January 2020. You can also use F4 or F6, F11, click, Save, and click. Yes. Now it shows the status as posted. So that's how we convert purchase order to purchase invoice in Sage. 34. Dealing With Loss of Inventory: Now, our next transaction is off 27th, January 2020, and it says one cooler green screen damaged during loading and unloading. And that is at 12 thousand per unit. So this is an inventory adjustment. As I explained you many times that sees line 50 is particularly for bookkeeping and it is not very efficient in inventory management. So it is also a two-step process in which we will first adjust the quantity and then pass a simple journal entry. I'll go to siege, I'll go to products. And since it's a cooler green skin, I'll just select it and click on Adjustment out. And the deed is 27th of January 2020. And reference number, you can mention any reference number here. Now quantity is one. Since our current install quantities 107 after they're just made of one, it should change to 106. As I save it, I can notice here that a change to 106 now quantity adjustment is done. We also have to post an impact as a value in the ledgers. So I'll go to company now. I'll go to journal entry. So to make the journal entry is 27 January 2020. And since we have to pass an entry of loss of inventory as a debit. So just search for it. I already know that there is no loss of inventory account, so we can use seven double 09, that is adjustments account. But this is named as adjustment. So let's first change the letter name, disclose it for now, go to nominal edges. And under the nominal ledger is just searched seven double 09. So just double-click on it and change the name to loss of inventory. And then just save it. Close. Now go back to journal entry again. And transaction data is 27th, which can read 2020s. And lots of energy is debit. Mentioned any extra reference if you want. And this is our notation. Let's copy this paste and amount is 12 thousand. And credit should be material purchased. This is a special entry that is how it should be treated in CH. So just based on edition and under the credit side, now, let's enter 12 thousand and save it. So that's how we can deal with inventory you just prints or loss of energy and Sage. 35. Adjusting Journal Entries: Now comes our last entry for this assignment. And that is of 31st January 2020, which sees rent expense for the January adjusted from advanced rent account for an amount of 5 thousand. Now, as I explained the rule, to enter transaction in any accounting software that you will make the journal entry if and only if the transaction is non reading and non-cash means cash should not be involved in that transaction and that transaction should be a non trading activity. So rent is obviously a non-trending activity. And in this particular entry, no cash is involved. Because as you remember in the starting, we have already paid advance rent for six months by cash. So now that time At that time it was considered as an asset, as a prepayment. Now, we will unwind that prepayment. We will edges that prepayment against the expense for only the portion that we have consumed. The benefit of that is January. So we have consumed the benefit for January to change only the portion of the benefit we consume 5 thousand per month. So rent expense will be 5 thousand and it will be deducted from the prepayments. So that is a simple entry. I'll go to Company and go to Journal. Now as I click on journal, it automatically selects an account. The reason for this is one of the account is selected in the background. If there is multiple accounts selected, you can just click Clear and then go to General Entry again. Mentioned any reference number. It is 31st, January 2008, Grundy. And rent expense account is should be under seven. But in under seven we have to search it a little bit. It is 7100. And under the details, you can just copy and paste this narration amount is 5 thousand and prepayment was under double-bond 03. So I'll just copy this tradition again. I'll press F6 instead. And under the credit side, I just mentioned 5 thousand. So that's how it will be a district inexpensive account from prepayments. And then just save it and close. Now, I ought assignment is finalized. Just complete that assignment. And then I'll show you how to reconcile the trial balances and see other reports. 36. Introduction to Starlite Company Assignment: After the completion of first assignment, let's move one step further and let's start a new assignment name Starlight. Now Starlight is a trading company, but in this assignment we will purely learn the book keeping at management and the bank reconciliation part. This assignment is very important to see the main crux of, uh, this software says line 50 because as I told you in the starting that this software is particularly meant for the bookkeeping work, the Vat management and the bank reconciliation. We will use the batch invoice feature in this assignment, which is quite useful to handle bulk data. Let's get started with this assignment. You can download this assignment from the link of this video. Click on the resources section and you will download the word file in which there will be z file link that you will download from Google Drive. Once the download is complete, it will be in the form you need wind to extract that. If you don't have dar, you won't see this book style of icon, install wind and then come here when you see this icon, right click on it, click on Winrar and select Extract two Starlight assignment 2023. Once you get this folder, you'll go in this folder and that is all the exercise files that we will handle in our assignment. Let's create a new company. Let's open Sage. I'll click on Open Your company's data. Click Okay. Now, once you click Open the company's data, it will ask you for the existing login first. For example, if you have completed the assignment of traders earlier, it's asking for that login and password. If it shows you the company creation screen directly, that's great. But if not, you need to log in to the existing company. First login name for that is manager and password is 1234. You can mention here whatever you have created that it will open the company of the existing traders. Now, I need to create a new company, right? I'll go to Files. And click here. And click here, Company. It will ask you to close all the existing company files and any unsafe data will be lost if you did not save it. I'll save it, then I can see the new company creation screen. Now as we have done in the past for Zentrids. I'll set up the company again here. Set up a new company. Click Next company name is Star Light. These information fields are pretty basic, you can fill it on your own. It's just a journal information, country name. I'll mention UK because it is assignment that is based on pounds. Let's click next. It is the sole trader company. Click next the financial year. Now let's open an exercise in the assignment. It is for the quarter of May 2023. It runs through first March through April and May. I'll mention the financial year as 2023 because this assignment contains all the data of 2023. January 2023 is the year financial year range is mentioned here on first January 2023 to 31st December 2023. Click next. Is your company Vat registered? If you remember in the last assignment we selected here? No. Now, this assignment involves the text or Vat amount as well. We will learn all of this stuff. I'll select yes. Enter the Vat registration number 123-45-6789 I'll mention this here. At scheme will be standard, you have the option of cash based accounting, flat trade, or cash based. For now, we will select standard Vat. Now, what is the at percentage rate? We can find out from our assignment itself. Let's go to Sales A book. And let's check. For example, pick any invoice amount. This is the net amount. This is the amount equal to 122.48 divided by the net amount. This is 20% If we apply 612.40 multiply 20 percentage, it's exactly this one rate. We will suppose it to be 20% Maybe there are some other reduced rate involved in the assignment as well, but the main standard rate will be 20% Click next, you don't need to write percentage because it is already considered as a percentage. Just mention 20 here. Click Next. Base currency is found in Sterling as we can see in our assignment. Click Next password. You can mention any password for your ease or you can continue next without mentioning any password. Click next and click Create. Log on. Name by default is manager. We haven't put any password. It Enter Now it shows you the message of customize the company Or close, let's close this. Now you can see here on the top, we are logged in in our brand new company that is Star Light. Just create this company. And then we will move further. 37. Entering Multiple Customers From Excel: Now let's open the company file again. If I click on 50, now you can see that if I click on Open your company's data, we can see the choice. Before that, it was just asking you to directly log into an existing company. But as we have multiple options now, we have Zantrids and Starlight. It's asking for the company name. This is our company. Let's select and click okay. Log on is manager, password is none. Click Okay. The first exercise is customer list. Let's open that. Now there are a lot of customers. We will enter all of them one by one. I'll also show you a quicker method to do that, but let's just start with this account reference. I'll just copy this to enter the Customer, I'll go in the Customers. Now the quickest method to enter the new customer is I'll not click on New Customer. I'd rather click on Customer Record, the account name for first one. Let's mention that. Let's try to copy and paste first. If not, you can write it manually. F001 and the company name, you can copy and paste. This is the company name. Now for this assignment, there is no need to enter the customer balances. At this stage, we don't have any customer balances. But as I told you before that after you have entered this company name, what you will do, I'll go to Credit Control. Even if you didn't set any terms and conditions, I'll click on Terms Agreed. So it doesn't ask you every time when you enter invoices, especially I'll save this as you can see that this customer is created now for all the other customers. I can set the default of terms agreed. For that, I'll go to Settings and click on Customer Defaults in the Customer Defaults. As you can see, many settings are here, but I'll just click on Terms Agreed. So that I won't have to do it over and over again. This is the key. Now if I want to enter all of this customer names in a capital form, capitalize each letter. That is very simple. In Excel, I'll just select this next column and right click and click on Insert. And click right here. Name proper formula is equal to proper. Press Tab and select this text Enter. As you can see that all the first letters of each word is capitalized. Make these changes for all the other. Just double click to send it down. Now if I want to get rid of this list, what I can do is I'll hold the right click on the corner of this selection, make sure that all the data is selected. I'll go to the corner when I see this four arrow signs, I'll just hold the right click and then start moving towards the left. When you come on this name, the earlier names we had. As you see the highlighted part, just leave the mouse it, ask you for the option, select copy here as values only. What this will do is this will not only move the data from here to here, it will also remove the formula. Now we're not dependent on any formula, we can just simply get rid of this one. By the way, if you want to learn Microsoft Excel from Basic to advance, I'll also attach the link to that course in the resources section of this video. You can check that out as well. Anyway, now we will enter all the customers in a proper form. Next one is this one, LG 001. I'll go to Customer Record and write Lg001 company name. Copy there and paste here. Let's check the credit control. Now as you can see, terms are already agreed. Now let's click Safe. Click Close. This is how we will enter customers, but there are a lot of customers to enter in line 50. In the next video, I'll show you a trick by which you can import all of these customers in the say, software. 38. Customer Data Sheet to Import: Now let's see how you can import the customers in CS line 50. To import the customers, I'll click on File. And click on Import. And here it says that you can import the data from Excel worksheets in the Excels format directly or containing the comma separated values, that is CSV file. I already have the Xl file. And it is also recommended that if you have an existing data before importing or trying anything new, just take a backup of the company so that if there is some problem with the importing, you can always restore that backup. Let's take the backup. Would you like to check the data before backup? Yes, checking complete close right here, backups and this is the file name of the backup. Let's save it in re drive. Click Okay. Now backup has been successful. Let's try the import. Now click next, I'll import the Customer records. Select Customer Records, the data source in the data source only this one is enabled. Csp Excel is not enabled. Let's select the file to import l. Let's see, maybe it allows to import in Xl format, Then it will be perfect, but the requirement for import is a little different. I need to copy this data. Let's create a new XL sheet Pace. The data here, uncheck the wrap text here. I will mention it as account code here, I'll mention it as customer name. Now why I have created a new sheet, because in most of the softwares, the headings should be in the first row and then should immediately start with the data here. I can see that there are multiple headings here, there are many fields, many extra spaces or rows here. And also the data is merged as well. That data cannot be used to import the data. Let's click Safe. Let's write here customer data sheet to import. Let's close this. Make sure that you close the Axil file. First, let's browse this default. It only allows you to select file. Let's check all files. If I select this still, it doesn't allow the Excel worksheet in that case. Let's change the format of this sheet to V, which is very simple. I'll go to File, click on from here, I'll change the type two separated value Limited, Save. Yes, close it. Now let's try to import, this is my CSE file open. First row contains headings. I should mention that because in first row there are heading, not the data directly starting from the first row, Click next. Now there are a lot of fields. I need to specify which field is considered what in Sage, this is the Sage field names and this is the imported field account code is equal to account reference, account name is equal to customer name. We don't have any further data. Let's click next and click on Import. As you can see that records are imported. Let's check this. Close this. Go to Customer List, and you can see here how quickly it imported all the customer names with a single click. This is how you can import the customers in sales line 50. See how quickly it imported all the customers and it will save you a lot of time. Just confirm that we have imported all the customers or not. The first customer is Alphath Limited and the last customer is Zum. Zum, I'll here Alpha Limited. If we scroll down from here, last customer is this. Try it by yourself, but remember to always take a backup first whenever you are trying to import a large amount of data. Just practice that and then we will move to the next video. 39. Entering Batch Invoices Manually: Now after entering the customers, the next exercise is entering the sales stay book. We will do all the activities in this assignment in the most easiest way, like I showed you earlier, how to enter the customers manually. And then I've also showed you how to import the customers. Same thing we will do for the sales invoices. First, I'll show you how to enter them manually. Now as I told you before that this software is ideal for bookkeeping and at management under Vat management book keeping, the main purpose is not maintaining the inventory items itself, but they only enter the total of the sales invoice directly, especially in Vat assignments. They are only concerned with the invoice amount, the text amount, and the gross amount. This is the exact data we have right here, but as you can see, there are a lot of invoices. These are invoices for three months. What feature we will use for set? Let's see. I'll go in the Customer section. Under the customer section, there is a pretty convenient area for that dedicated to enter the batch invoices. I'll go to batch invoices. For the manual entry, we will do it something like this. The first account reference is M double 01. Account number is our reference number. Account reference double 01, press tab. It says terms have not been agreed. Let's check this. I'll click No, let's check the customer list. If I open them, it continuously show this message. I have to manually check that terms as agreed. Now I'll continue, but I think that when we imported data, we haven't set default terms as agreed. Anyways, let's continue with it. Not an issue. Ma Z01. Now, first of March, 2023, first of March, 2023, This make sure that the date sequence is exactly what is selected here, it is not in month, date, or year format. Here it exactly says that first of March, 2023, it is exactly the same. Make sure that it doesn't select third January instead of first March. The next one is reference number. Reference number, we will call it as invoice number. Let's copy and paste that X reference number. If it is related to a specific set of invoices, you can mention X reference number. Right now we don't have this data actually. We can uncheck these fields which are not required as well. Just right click on any of the headings and just uncheck all the details that we don't want. We don't have any department number, any project reference here, so we will uncheck those. Nominal code is 4,000 4,000 is for sales. Let's see the category name, nominal ledger name is sales type A. Let's continue with what the details we have this only, let's copy and paste that. Now, 160 is the amount 160 I'll mention here, but you can see that it will calculate the Vat of 32 as per the text rate of 20 that we specified earlier while creating the company. If this is zero tax, then we will consider it as zero. Here are the text codes defined. Zero is zero rated and one is 20% and five is reduced rate 5% nine is outside the At scope, we will consider it as zero. Okay. As you can see that now the At rate has changed to zero. Press Tab. Let's continue with the second line. Now we have pat 001. Right pat 001, click Okay. Date is second of March 2023. Second of March 2023, 5676 press Tab entered the details. The net amount is 395. The text code for this is 79. Should be the text amount. Let's try one. As you can see here that it has extracted 79. Let's continue with next. Let's enter one more and then I'll show you the import feature, ALD 001. Date is second of March 2023. The reference number is 56775677. Nominal code. Make sure that all the nominal codes are correct as we can see here. For this it's four double 01. Let's change this one to four double 01, this one alkali. Let's copy and paste that and make it to zero and the Texas zero. Now I recommend you should have hands on practice of entering the data manually because when you are dealing with the live data, you will have the invoices, not the data that is arranged in Excel like that. You might not always have the option to import the data directly. I recommend you to practice its hands on by entering the batch invoices manually. And when we want to save it, we will just click on Safe and it will be safe in the data records. Now let's do this in import feature, I've just canceled this for now. Now to import the data, as we've seen earlier that we shouldn't have any extra headings besides the exact column headings. These headings are extra. 40. Import Sales Batch Invoices March 2023: Now that we have manually seen how you can enter the sales invoices, a batch invoice in Sage. Now let's see how we can import that. To import any data, there is a basic requirement of the data that headings should be in the first row without any merged fields and then should start your data. What I'll do is I'll just create a new L file. Just open a new L file to import this data. I'll just copy this whole data. Let me just copy it for one month first for March. If you notice I copied it from here. Which is the individual headings of the data, not the generalized headings. We only need the data headings. Let's let's save it as CSV format. I'll save it as import sales batch invoices March 2023. Before importing, I'll make some adjustments to it as well. As you can see here that there are two fields in the net amount. That is currency signed in the separate column and the amount is in separate columns. We need to get rid of this extra column. We will name this one as net amount. Same for text amount. Make sure that none of the cell are merged. If we select this cell, you can see that these are merged. I don't know how many besides this are also merged. The simple way of merging all the extra cells is you will just select this sheet from the corner between one and A is this worlded page sign. When you select this, you see the merge and center is highlighted when we click on it again, all the cells in this sheet will be unwashed. Now we can see the column is extra currency field right here, text amount. Same is the case for gross amount. Gross amount. I'll right here just delete this column. We have decided that all the taxable invoices are one code and all the blank are considered as we have to mention the text code here as well. Now one other thing we need to do is get rid of all these dishes. Just select column control. I'll go to find and replace with, Replace all. As you can see, 50 replacements are made. No. I'll write the text code. I'll whichever invoice doesn't have the text amount, that is considered as zero code, otherwise it will be one equals to F if this cell just in the front of this formula, If this cell is equal to B, then then show zero. Inverted commas close, otherwise show one. If you don't know this formula, what I'll do is I'll save this sheet for you. You can just directly try to import this. Here it mention one. Let's see. For others it automatically mention is blank, it shows zero, otherwise is one. Now if you want to get rid of the formula, now you want to paste it as values. Select this column control, right? Can pay specialized control, a specialized values. That's it. Let's save it. It's also in the CSV format. It ask you again and again to save. I already saved but still it asks multiple times. Okay, now to import the data, I'll go to file. I'll take the back up. First, back up will be in the Re drive before importing sales invoice. So I'm saving in this folder, okay. Now let's try. If I go to File and click on Import, I'll choose this same screen where we went earlier for customer records import. Let's click next. Now as far as data import is concerned, in line 50, there is a lot of confusion. People always believe that. We cannot import purchase invoices and sales invoices in sales line 50, but that's wrong. The main confusion is you don't actually find in a particular area where it is mentioned that you can import the sales invoices from here. Here it's generically mentioned, audit trail transactions, we don't exactly know what we can import with that. Customer records is a little bit clear that we can import the customer names from here. From here again, fixed asset records are not specified so there is a lot of confusion in this. Data types will work. What basically H does is you can import all the sales invoices, purchase invoices, credit notes through audit trail transactions. How this will work is it will detect basically the invoice type that we can see in our invoice. As you can see here that the transaction type is mentioned as SI means sales invoice. If it is mentioned PI, that means purchase invoice, and so on and so forth. What we will do to import the data, we will select the data type as audit trail transactions. Click next, we will import it as comma separated values. Just browse the data, we've already converted it to CSV format. Click Open. We also have the headings in the first row. We will check this field as well. First row contains heading. Check this, click next. I might need to close this trade transactions. Common separated values. Yes, make sure that you close this Xl file before moving next. Now it asks you for the most important part and that is field mappings. Some of them are compulsory requirements for the data import and some of them are by your choice. Depending on your data, these statics are the compulsory fields to be imported. Data type data type is TP, either sales, invoice, purchase, invoice, whatever. Next one we have is account reference. Account reference, we will link it account reference. These are the H fields and Il fields that we need to match so that CH can identify which field is equivalent to that, the specific field mentioned in Excel. It will relate those fields, nominal account references. Again a must to enter. Here we will mention the nominal code. Link it with the nominal code. Date is automatically linked. Now you will notice that one interesting thing happen automatically here. That whenever a specific heading exactly matches the name in the Sage field, it automatically identifies and plays it automatically in the imported field mapping. That's quite useful. Details is already linked to details. Net amount is already linked to net amount. Text code is already linked to text code, and text amount is already linked to text amount. All of these are mapped. Now let's click next and click on Import. As you can see that, it shows you that text amount cannot be left blank, none of the transactions are imported. Why? Because the text amount must mention something. What we do is just open this file. Text amount should be mentioned, whatever it is, even if it is zero. What we will do is we will select all this data and go to Control and find blank and replace it with zero. Replace all that's it. Now the fields are not blank, right? We don't need to adjust and write the formula again because we already considered whatever doesn't have any text amount is considered code as zero. Let's save it and try it again. Let's save it as format. Replace this. Let's close. Now let's try to import again. Welcome Screen. Click Next, Auditor Transactions, click Next, Comma Separated Values. This is our data. First row contains headings. Next let's link the fields type is linked to TP, that is transaction type which mentions sales invoices. Account reference will be mentioned to account reference. Nominal account will be link to nominal code. Date will be linked to date. Details are net code and text amount all linked properly. Let's see some other details. Reference number, Maybe we need invoice number here. We will link in voice number here. What else fields are remaining? Deals. We already have that linked. Let's click next. Let's try Import Data for Transaction Net Amount field. Now maybe there are some extra spaces in this net amount field. What we will do is I'll write net amount here. I'll click on equals to trim this and rag it down. Then copy and pay Special as values. Right click pay Special as one to three. Now let's click on Convert to Number. All fields are converted to number. Now let's delete it from here, and place it right here. Let's click now. Let's try to import again. Click next, and click on Import. Now as we can see that all the transactions are imported, it's good to know that we now know how to resolve all the errors, whichever has occurred in the data importing process. Sometimes when we convert the PDF file to Excel, sometimes it doesn't identify that particular columns as numbers or accounting format data. In that way, we have to use and implement these formulas before the software can actually read the data. Now we want to check any customer details. I can see here all the balances are here. Now I need to check the customer activity. I can see that if we move to customer and customer list, we can see all the balances of the customers. And whenever we want to see a detail or activity, you just select this and click on the activity and you will see all the transaction itself. I can double check that. I can filter the general trading. I can see here that we have two invoices here in the net amount. This is exactly that. Now if you want to check the customer invoices report, I'll go to Customers. Click on the reports under the Customer Invoices. I'll select here, Customer invoices due. We will extract the report from. I'll change it to today. What I'll do is directly click on here, change it to today. I'll open March, the first up till right here today. Go back, click on March and click on 31st. Let's generate a report. Now you can see here it only generated one customer report. That's because it's selected in the background. How to unselect that? I'll just click it again. Once now it's unselected. Go to the reports, customer invoices. Customer invoices. Move it to today. March 1 to today. Go back March 31. Let's send it the report now. These are all the invoices written here. Let's make sure that the totals are correct. Let's filter it for pat. It should be 5698 as a net outstanding balance. These are all the invoices that we have for double 45698. This is the gross amount, right? 5698. After text it is 5698. Perfect. Now if you want to see the sales invoices detailed only without the segregation in customers, I'll go to daybook. From here you can check the customer invoices detail or customer invoices summary, whatever you like. 41. Importing the Remaining Sales Invoices in Sage50: All right, now that we have imported this one month successfully in 950, and we now know all the criterias that we need to adjust to import the data. Now let's copy and paste the remaining two months. Let's import that. I actually can adjust all of it here. Actually, let's create a copy of this one, right? Save as CSV limited. This time I'll save it as April and May. Let's make sure that the other exercise file is still intact. Yes, it is. Now that we have already imported March, let's remove this. The quickest way to do this is select one row control, shift down. And it will select the whole march until the total comes right click and delete. Let's get rid of the totals as well. Let's also remove the extra headings, because the column headings should be on the first row. That is the main requirement only then it will properly map. Now let's select whole sheet. Because some of the cells are merged, we don't know exactly which ones. When we select this, it highlights. That means some of them cells are merged. Let's unmerge them all. Now let's copy and paste this heading here so that we can get rid of this extra columns containing the symbols only. Let's copy here and paste it here. Copy here, and paste it here. Let's copy here and paste it right here. Now let's get rid of this one. I hold it control and select the other one. And select the other one to get rid of all of them at once. That's perfect. One other adjustment is, as you remember, that we got rid of the dashes as well, but last time we replaced it with blanks. This time we will replace it with zeros because as we know that when we tried to import it, it didn't identify the blanks. Right. I'll select the whole column and press control here. I'll go to find and replace it with zeros. Replace all, as you can see, it made all the replacements. Now we need to text sod as well. Let's insert a text Scd column right here. Text code, we will mention a condition that equals to f. If this cell equal to zero, then the code should be zero, otherwise it should be one. Let's enter, let me just zoom it a little bit for you so that you can probably see the formula. If this cell is equal to zero, then zero, otherwise one. Double click and send it down. We will also get rid of this total column after the completion of April month. Let's delete this, continue and drag it down. Let's remove the total form the end as well. We don't need any extra columns to mess up in the import process afterwards. Let's save this, Let's see if it can properly import this one. I'll look at the data generically. Once everything seems okay, let's close this. This is the main requirement. Actually, let's press control. Yes, close. The other time when it asks you to save, click don't save. Now let's import to file. And click on Import. Click yes, it shows the welcome screen. Click next, we already know what to do. Audit real transactions. I'll browse the file. Here is our file. Click open, first row contain headings. Stick that import field type is TP, account reference is account reference. Nominal account reference is nominal code. Others, it automatically linked net will link to the net amount column text code is already linked Text amount, this is the text amount. What else? Reference number. We will mention the invoice reference. That's it. Now I can save this map as well. Let's save it. Let's save this location. Click next and click it. Didn't import because it didn't identified the net amount field property. Now we will not close it and start it over again. What we'll do is make some adjustments to it. It didn't identify the net amount, right? We inserted the column last time, right here, net amount two, let's say and equals to trim, because it might contain some extra spaces in this field. Now, how that extra fields are created? Basically, when you convert your data from PDF to Excel, these things happen. We need to clean that data in order to work properly. Trim and select this cell. Double click to send it down. Now we need to control C and special as values, Special and It values. Now we need to convert all of these to number. When you see this exclamation sign convert to number, and that's it. Now it's properly identified as our number. Now we can change it back to net amount. Let's click yes, don't say now, edit, import. We have already made the adjustments. Now I'll go to file. Click on import, click next order, real transactions. Let's select this. Now let's load the map. Map is here. Click open. Let's check it carefully. As we can see that net amount is not linked. Link this one again. Rest all is okay. Next, save the changes to import mapping. Yes, and save it again. Let's click on Import now. Now you can see all the data is property boarded. This is again a reminder for you how to do this exact same process for the sales invoices completely. Our first step was identifying all the discrepancies that we had in our sheet to overcome and import the data properly. And for this part, we have gone through it quickly and we have revised what we have done before. So this is the complete process of importing the data for sales invoices in CS line 50. 42. Reconciling Sales Transactions: All right, now that we have entered our customers and we have also entered the sales invoices, let's open this exercise once we have already entered the data for three months from March till May. Now, if we want to generate the report for all of these three months in the invoices summary just like this, how can we do that? I'll go to Sage and click on Customers. Click on Reports now to check the totals. I'll go to Day Books and click on Customer Invoices Summary. Let's set it one by one. Let's switch to today and set it to March 1, 2023. Let's switch it here as well. And this one is May 31. Actually, let's send it for a single month. It's March 31. Click Okay. Let's check the total of this one. It's 40,009 91, which is exactly the same we can see here. And 3080 is the tax amount and gross amount is 404071. Let's check the next month. Now, close this again, generate this report. Now it will be April 1 of April 30 of April, 2023. Let's generate a report, and we can see this amount. Now let's tell you this. 35,171.1 410 is the tax amount. 36,581 is the total of the gross amount. Let's check this for me now. Go to Day Books, Customer Invoices Summary. Let's set the date and click Okay. The total for this one is 40,869 Net amount. The tax amount is 1998 and the gross amount is 42,867.75 That is perfect. We have reconciled all the transactions in the Sales day book. And now the next step will be entering the Supplier List and the Purchase Daybook. 43. Import Suppliers in Sage 50: Now we will enter our supplier details. And this is the supplier list. It's better if we import all of the supplier list. There are some of the prerequisites which we will repeat to have a proper grip on how to import the data in Sage line 50. Let's create a new file and let's copy and paste the data from here. As you can see that the most important headings are the fed headings, that is the data headings. These extra headings, we are not concerned with that. We don't need that. We will need only data and it's related headings. Let's select and copy them all and paste it on a new sheet. I'll hit Wrap Text to arrange it properly. Select all the columns, come in between these two columns. You can see this arrow sign and double click to auto edged. Now I need to make sure that I import the suppliers in a proper form, which looks professional. As you can see that it's all in the small letters. What we do is do the proper case in Excel equals to proper press Tab and select the text. Hit Enter now each word is capitalized, double click to send it down. When the data is dragged down, we can simply copy and paste it here as values. We can get rid of this formula as well. In this single step, what we'll do is make sure that all the data is selected. Then we will go on the right. When we see this four arrows, that means we can move it anywhere we want. But instead of using the left click, we will use the right click to move the data hold the right click and start moving towards this previous column, that is name column. When we see selection on that, just release the mouse and you can see copy here as values only done, formula is removed. Let's delete this extra column that we just created. And that is done. Let's save it as a CSV file. I named it as supplier list in CSV. Let's safe and close it. Now let's import the data. I'll go to Sage. Let's go to File. Click on Import and click Yes. Welcome Wizard. Click Next. It's also recommended to take the backup. So make sure when you are practically implementing the case line 50 in our real time data or in your company, make sure that whenever you import any kind of data, you must take a backup. So that if you mess up, you can simply restore that backup. Click next in the data type. I'll select Supply Records. Click Next. Comma Separated Values. We have already created that sheet. Here is our file. Let's click open. First row Contain Headings. If we have headings, we must click on that next. Now we will relate or map the fields account reference with the account reference. Account name with the name. I guess that's it. Click Next and Import. Now as you can see, all the suppliers are imported. Now click on Suppliers and click Check Supplier List. This is how we import the suppliers in stage line 50. 44. Import Template for Purchase Invoices: Now we will enter the purchase transactions from this purchase book. That is exercise four. These are all the purchase invoices that I need to enter. I'll follow the same method to import the data. Let me just create a copy first, I'll attach this copy with the link of this video as well. Now I'll delete this extra columns, Let's delete that. Now, select the whole data as well and just merge them all. If you see some extra columns, you can delete that. But in this data, I can't see any extra columns besides these totals. I need to get rid of this totals, make sure that data is clean before importing it in sage. Now, for the net amount or tax amount, we will go to trim. And let's create some new ones. Gross amount equals to trim. To remove any extra spaces, select the net first amount and just double click to send it down. Same thing goes for this other column. Trim the text amount, double click to send down, and the gross amount trim. Let's trim the gross amount as well. When we select them all control Copy, Pay Special as Values. Go to Pay Special and select Values. Click Okay. Now you will see all of this little signs with it. That means you need to convert them to number, because right now it's stored as text. I'll convert them as number. All of them will be converted and then we can get rid of the figures. Make sure that the figures appearing here is in the parallel sequence two, the original figures. Now let's delete them all. We also need the text code, right? Actually, let's open suppliers. Go to suppliers and click on batch Invoice. Let's unselect what we don't need. X reference, we don't need that, right department? We don't need project reference, we don't need and cost code, we don't need that. But these fields are important. Account we need the supplier name. This is account reference. Actually, this time we can do something else as well that for account reference, let's make the heading same so that we don't need to map anything Reference RF, Let's mention the reference. Strike this then is nominal code, Same is mentioned here, details are same. Next one, we have net text code. In a net text code we need here, I'll insert a new column. And right here text code equals to. If this cell is equal to zero, then zero in inverted commas, otherwise it will be one. It enter double click to send it down. We have all the text codes now make sure that all looks fine. Copy pay special as values as one to three. This is done if you want to make the same format for them. Then let's select this one column, the whole column. I'll select Format Painter, which will copy the format of this column. Let's select them all to paste this format on all the columns one shot. So these are all Excel techniques that you can use. And by the way, you can also join our Youtube channel, just write account tech training and solutions on Youtube. You will get all the useful videos there. Like in the earlier videos, I've attached the Excel course as well. If you want to join, I'll attach with this video as well. You can check that out. Now the data is finalized. Let's click Safe. Let's close this. I'll go to File. Click on Import, Click yes, make sure you take the back up. Let's take the back up. Click next. Now I'll go to Audit. Real transitions to import the purchase invoices comma separated values. Let's make it a CSV format browse. To import, select, This first row contains headings. Yes, I'll select type nominal, nominal, account reference, nominal code. Details. Net amount, Net text code text amount. I'll mention it here. Text amount, account reference. Let's select account in account reference. Actually this is the Sage field names that we needed here. In the reference number we need reference. Account reference will be Act nominal. Code reference will be nominal Code date will be date reference number is invoice number reference number. These were all required fields and these are all optional fields. We have selected them all. Let's click next and save the changes. Yes, actually let's save this. Already exist. Okay. For P, I purchase invoices. Let's click Import. Non existent Nominal ledger. Account. Nominal account reference. All right. Okay. We tried to import the data of purchase invoices in Saves, line 50, but we got an error. The best way what I did is I took a screenshot of that error. Let's resolve this particularly here. It says error in record 11, nominal code account reference, reference to non existing nominal ledger account. Same goes for 21, line number 41.50 94 errors are detected. Let's resolve these errors. Let's check what is here in line 11. Let me scroll down, Line 11 is 5103 CRS. Let's check this ledger here. I'll go to batch invoice right here. Let's select CRS. Let's press tab. When we write 5103, we get nothing. That means we need to create that. This is a type of expense that we don't know exactly, but it goes under the CRS category, CRS expense. Let's write here, it happens most of the time, that when you are doing, uh, a book keeping or an accounting assignment, you might not know exactly what this expense is exactly about. It's better to confirm that, otherwise you can generally know what category it is because it is under the cost of goods sold. As I told you in the account coding that one is for assets, two is for liabilities, three is for equity, four is for revenue, and five is for cost of goods sold or direct expenses, Five to six is for cost of goods sold or direct expenses. Seven is indirect expense. Let's create 5103 here. Can we create directly from here? Yes, 503, new account. Let's write CRS charges here and save. Now this ledger 5103 exist. Next error was in line number 21. Let's go to 21. Actually, we need to go to 22 because row number one in Excel is headings. Let's go to 22. Same goes here. 5103 is for CRS. Now, that's also resolved. 41, let's go to 42. Now, same goes here. And 59, let's go 60, same goes here. In short, all of our errors are now resolved. Let's try and import it again. Let's save this data. If it ask you again and again, click Don't save, close this. Now let's import the purchase invoices real quick. Let's import now two errors are still detected. Let's resolve these one now. It might need some couple of adjustments before it successfully imports all the data. But these adjustments are still worth it because you don't have to enter all these purchase invoices manually, right? That's the power of importing feature 72. Let's go to 72. Actually, 73. It says here, 30 PC World PC World. It's double 030. Let's check double 030. Maybe it's omitted some beer. Let's go to invoices. Let's try double 030. Office equipment is all right, double 030. As we can see that it doesn't allow the extra zeros. Let's try to place a here so that it holds the zero double 030. Let's try now. We need to close this, and hopefully now it will import all the data successfully. Yes, it did. This is how you can solve some of these errors. Let's go to suppliers now. And suppliers list, you will see all the balances here updated. This is how you can import the purchase invoices by line item in line 50. 45. Enter Batch Credit Notes: The next one we have exercise number five and that is credit notes and petty cash. Now because it involves only a couple of transactions, let's add them all by ourselves. So I'll go to age first one, we have Sales Credit Day Book. That's Sales Return. What I'll do is I'll go to Customers and click on Batch Credit here. Let's mention the account one by one and let's enter them all. 27 April 2023, that's for L EB 001. 27 April 2023, credit number. We have this invoice number N5804. It's exactly the same invoice number but with the CN that specifies this is a credit note CN 5804x reference, not mentioned here. Let's get rid of this extra fields department. We don't need project reference, we don't need that. Nominal code is 4,000 perfect and details. Let's copy it from here. Paste it. Now if you want to practice this on a computer screen without printing the assignment on paper, you need to use alternate tab, hold the alternate key and press Tab. It will go on the second page. You can use always the combination of tab to switch between the windows, the amount is 42, text code is zero. Next one we have SW E001. Date is 28 May 2023. Reference number is this. Let's try to copy and paste it directly. Yes, we can 4,001 Make sure you select the nominal accounts carefully and for details. Let's copy and paste it. It's 15.9 6.3 0.191 is the text code. That is tax rate of 20% Let's go on the next line. On the next line we have Pat 001. Okay. Date is 27 March 2023. Credit number is this, nominal code is 4,000 Details are this. Let's copy and paste that. 11.75 is the amount. This is zero. Next one and the last one. In the credit notes, we have ETL 001. Date is 25 March 2023. 25th March 2023. Reference number is 4,000 Copy details 8050. We are done. This is the total gross amount. Let's tell you that it comes here as well. This is the text amount total. This is text amount total. All good. This is how you can book the sales credit note, or the sales returns in the batch invoice feature. After completing this, let's save this, make sure you save that correctly. And 46. Dealing with Purchase Return Via Batch Credit In Sage: Now if we scroll down, we have the suppliers credit note daybook. And that is basically purchase returns only. The area will be changed and method will be same. I'll go to suppliers now and scroll down. Click on Batch Credit. As you can see, it is the same exact template. Let's get rid of this extra fields that we don't need and let's enter the data now. Account number is 001, date is 28 March, 2023. Credit number is Let's copy and paste that. Nominal code is 5,000 Details are this only paste. Net amount is 175. Text amount is 00 here and press Tab. Next one we have is AG 001. First of April, 2023. This is the credit number, same nominal code, and these are the deals. It's 275.0 because zero Tex press Tab. Next one we have 25th April. 25th April, 2023 credit. Notice this details are this zero. Next one we have BPI first of May, 2023 credit number. Let's copy and paste and let's go back. Now when we press tab, we go on the next feel, right? How will we come back with keyboard? Shortcut is shift tab, hold the Shift key and press Tab to go back. Now this is five, double 01. I'll also let you know different short keys that will help you to perform your work better. 1,072.8 text amount. Here comes 214.56 Perfect. The last line is, press tab 30, Applewood 23. Copy the credit number, here it is in 73, double zero. That is vehicle fuel. Now, depending on the version you are using of the Sage line 50, you might see some different accounts just change the nominal account references or names accordingly. This is standard rated five point double. One is the text and let's save it. This is how you deal with the purchase returns in Sage. 47. Cash Payments to Suppliers from Petty Cash: Now when we scroll down, we have this petty cash sheet. Now that we need to enter these transactions, we will do this manually here. So that you can properly learn the areas of the manual treatment as well. This cash payments to suppliers are made. If it is mentioned that it is paid against a reference number, it might have an invoice in the background. If it has the invoice, that treatment will be different. If it doesn't contain any invoice and the supplier is not feed in records, then the treatment will be different. But here, we might have the invoices for all of them. Why? Because the codes are specified. That means we regularly purchase from that suppliers, and all the suppliers whom we regularly purchase from, we enter them as a supplier to enter the payments. I'll go to Sage and this time I'll not go in suppliers area. Rather I'll go to Bank Select Petty Cash because we're paying them from Petty Cash. We have the area of supplier payment. Now make sure that the bank account reference selected is shown petty cash. Here we are making the payment on nine March 2023. Let's enter the date first, ninth, ninth March 2023. Make sure it selects the same reference number is check reference number basically. But this reference number might be an invoice. When we select the supplier only then we will see the invoice D00 1d001. Now we can see this invoice and this reference number. It depends on what reference number you want to assign for petty cash payment. This is not exactly check number, but we can mention any number here. Let's say one double 01 If you want to settle the amount in full, let's select this invoice, or click here in the Payment and click on Pay in Full. That way it will settle this invoice against the payment in petty cash. Now let's save this. Now let's check it again. 8001. Now, there is no pending invoice for them. Next one we have 80 P001 Rp001. We are paying them by five March 2000 2031, double 02. Let's mention here we are paying them in full as well. This is the reference number. Select this area. Painful, otherwise you can just specify the amount you're paying. You also have the calculator. If you're paying 50% you can do this simple calculation like painful into let's say I'll hit multiply key here. All right, multiply here, 0.5 equal to 27. This is the calculations that you can make here. Anyways, click on Painful. Let's the next one we have. Actually what you can do is when you are done with some transactions, you can just select them and highlight them in yellow. That is the proper way of doing that to avoid any conflict, especially when you are entering the data manually. 16th March 2023, right? 16th March 2023, and let's make it one double 03. Let's select the supplier now. S001. This is the amount that is paid in full pay. Full one, double 03, double 03. Let's save this next one. We have ID 001 paid on seventh April, paid in full. Select the payment and pay in full save. Next we pay in full. Make sure that you select L002 because there are two L's here. Number L002 is what we need to select. 106, paid in full? Yes. Pay full and safe. Now we have M001. Date is six, May 2023, paid in full. Done safe. And the next one we have L Yr00 11 double 08. Go in payments, pay full and safe. Next one we have M one double 08 and ages 20th, May 2023, and that's also pay full. Now all of them are paid in full, but we need to confirm the amounts every time. Don't just pre assume that all are paid in full, rather just concentrate on the amount paid every time. Click on Painful and let's save. Let's close this. Now you can see that we have the balance in minus, but that's not a problem. When we enter some bank transactions, we will enter them on the previous date, So it automatically balances that this is how you make the cash payments to supplier from the Petty cash account. 48. Cash Receipts from Customers from Petty Cash: Now the next task in the Petty Cash sheet is receiving the cash from customers. Let's enter that again. I'll go in bank select the petty cash, but this time I'll select customer receipts AF. Let's enter the date Fourth March 2023 at we are receiving let's not mention the amount right now and let's mention one, double 01. What else do we have? We are receiving 85 right against this invoice number. Basically, we are receiving in this one as well. Click on Pay in full. Let's save this now. The next 114, March 2020 3102 is the reference. And we are receiving in full, I guess 295.15 Yes, we are painful. Receive and save. Next one we have Km001. You might be noticing that it looks very useful when we're doing the book keeping work or at management work, right? It was not that simple when we were doing a trading company assignment that involves the inventory. Line 50 is not very good in handling the inventory part, but it's very good in book keeping and at management. Let's enter the date now. Date is 15th of April, 2023. Reference number is one, double 03 and this one is paid in full as well. 35. Yes, it is paid in full. Let's select the receipt field and click on Pay in Full. Let's save it. Next one we have is L Em001. The date we have is 25th of April, 2023. Reference number is 104. Select the receipt. Is it paid in full? Yes. 98.04 paid in full and safe. Next we have is Ve01. Now, by this time you already know how to enter all of these. It's not compulsory to follow all the video till the end where I'm entering these invoices. Because the next part will even have more details that we will enter all of them manually because it will be settled against some references. Once you figure out how to enter that particular transaction, you can just skip that part and do it by yourself. Date is seven May 2023, reference number is one double 05 we are receiving in full. Next one is this date is 18 May 2023, Reference number now we have is one double 06, settled in full. Next one we have is M one 23rd of May 2023. And the reference number we have, we have done six so far, it must be 107, we are paying in full. Let's now the last one, E, D, Edward and William Limited. The date we have is ninth of March, reference number, we have 108 and we are paying in full. Let's say this is how you handle all the petty gas transactions, whether it's cash payments to suppliers or cash from customers received. Make sure that you mark all the transactions once you enter them on the software, so to avoid any errors or duplication of work. Like I told you in the earlier part, that we have the petty cash showing in negative. Now you can see that it's in positive 239 pounds. So what you can also do is whenever you receive some of these pegase transactions, what you can do is just receive the amount from customers first and then pay the suppliers. That's how we do the petty cash transactions, settlement of invoices against customers and suppliers in stage. Just practice by yourself. Come until this point and then we will move to the next topic. 49. Receiving Bank Payments Against Customer Invoices: Now that we have entered the credit notes and petty cash, the next exercise, number six. And here we will enter all the payments and receipts in general and against the suppliers and customers. This is for HSBC Bank. Before we did the same thing, but that was for petticsh payments. Now it's for a particular bank account. Let's go in Sage. I'll go to banks bank current account. Let's rename any of the bank as HSBC Bank. Now, after renaming the bank, let's select this. And the first customer receipt is from Zags Limited. I'll select this and click on the Customer Receipts. Here, I'll write my Customer. Now if you notice that the dates are same, but these are some different customers, we will receive the payments one by one. The reference number is mentioned as maybe for the same dates it mentioned the reference number. Let's copy this reference number. For now, we are receiving $160 So what we will do is we will find the invoice of the same amount, right, 160. Here is the invoice. We will play in full. And we are receiving payment on seventh of March 2023. Seventh of March 2023, we're receiving this amount. Let's save the next one. We have pets, right? Pat here. These are all the open invoices that we need to receive. The payments against date is seven March 2023 and the amount is 474. Let's search for 474. Now this is the invoice, so painful and safe. Already received this two customer receipts. Now this is what we need to do for all the months, for all the customers. I'll do it one by one. Let's do one more. I'll select the bank customer receipts. This is the amount that we will receive. Now let's cross check it once and if everything looks fine, let's save it. This is how we receive the bank payment against the customer invoices. 50. Bank Receipts from Customers March: Next is Peace Valley, end of March 2023, reference number is this, let's copy this. And 11 93 is the invoice. Just select this and painful and safe. Next customer is Mona Lisa. Date is tenth of March, reference number. I'll copy it from here. This is the amount 14, 45, That's safe. Next is Pat, tenth of March 2023, reference number. Let's copy and paste. This amount is 315. This one painful, safe. Now the next one is Amora, but this is for the same date, right? 12th of March 2023. And this one is also for 12th of March, the reference is same. What we can do in these situations, we can the customer receipts, both of them in the same transactions. Let's write here. As you can see, there are multiple invoices here, but we want to settle it for Ls of March 2020. 3.4 36.96 Now what we can also do is let's write the total of 436.96 here in the amount. Let's check this. 436 plus 96 equal to is 532. Let's add the reference reference number, Is this, for both. Now what we can do is we can settle the automatic payments. So when we click on one receipt, make sure that it is in the exact order in which we want to settle that. Otherwise, you have to arrange it. Either double click on here according to the reference numbers or you want to arrange with dates or with the amounts, make sure that it is in the correct sixpence in which we want to settle that. We have already checked the invoice amount, that is 436.96 What we have done is we written a total amount here. And now we will click on one receipt and click on Automatic. So what it will do is it will clear the first amount in full and the other amount will be also cleared in full. But this method is particularly helpful when we have a lot of invoices to settle and let's say we're receiving a big payment like for $5,000 or 5,000 pounds. So in that case we don't have to market every single transaction as painful. What we'll do is right here, the total amount and we'll click on the automatic payments. So what it will do is it will settle all the invoices in the chronoological sequence and the pending amount, for example, the last amount is for, let's say, $500 The amount which is required to settle all this payment is like $32 So it will take out this $32 from the last payment. You got my point. This is how it will be done. For example, I've selected that. I want to clear $1,000 customer receipts. What it will do is it will settle the complete amount of 436 from here, 96 from here, 96 from here, 2667 from here, 297 from here. When the total reaches that part, if for the final payment we only need to receive ten more dollar, it will settle $10 here out of this 50. This is a great feature to proper customer receipts. Let's save now let's continue. These two are settled. Next one is General Trading, General Store Limited, 14th of March, 2023. The amount is 3825. This one is the invoice, painful reference number. Let's mention it here. Let's say general trading is done. Next one we have is Sweetland again, for Sweetland, let's notice this 14th of March is the settlement date for all the invoices, but if you check the reference number one is 502125 and the other one is changed. What we can do here is we will settle this customer payment or customer receipt separately, and these two can be settled in one single transaction. Let's enter. This one is the old customer. Just remember to highlight the transaction every time you are done with that 14th of March, 2023. Let's mention the reference number. This is my reference number. The amount settled is 800.29 This is the invoice. Painful. All set. Let's save it. It says that the payment date is earlier than the date of transaction being allocated. Let's check this. 14th of March is the payment or customer receipt date, but the invoice date is 16th of March. In that case, what you can do is we will just ignore this message. And you can use Post using this date or Return to the Payment allocation. But if you click on Return to the Payment Allocation, it will go back in this screen. In this case, I'll use Post using this state because this is the assignment, not the real data that happens many times. That you accidentally put a receipt date that is earlier than the invoice date after completion of this assignment. I'll also try to show you some practical data that we enter on stage for filing the bat returns. Again, set line for the next transaction. I told you that since this is against the same reference number, we will settle them in one single transaction. Date of receipt is 14th March 2000, 2031. Invoice is 327.99 painful. And the other one is for 1,436.45 14, 36. I guess we need to search this 14 36 amount. Now if you can't find any particular invoice related to this, what we can do is since we didn't find any particular invoice related to that, we have a different solution for this either. We can settle the amount in any of the invoice because ultimately we're receiving from the same customer. Right. But if you don't want to do that, let's save this separately. Let's open this again. Now this time I'll write 14 March 2010, currently three. Let's write the amount here, 1,436.45 Now, let's mention the reference number as well. Let's save it without allocating receipt to any particular invoice. Let's save it. It will ask you that there is an unallocated check balance of 1,436.45 Do you want to post this payment on account? Payment on account simply means that you have received the payment against the customer, but it didn't settle any particular invoice because we don't know against which to allocate that. But still we can receive that payment against the account. So this is perfect for these kind of situations. Let's post it as payment on account none. The next one is Basha Limited, 14th of March, 2023, 38.4 This is the amount painful reference number I'll mention here. And let's see now. The next one is Peace Valley, and payment is received for 15th of March, 2023. Reference number is this, 18 54. The very first one painful and let's save next one. We have the same customer but the different dates, so we will enter it one by one. Reference number is one to seven and this is the invoice number. Painful. This is the invoice number. Let's safe make sure that you select this correct customer because the name appears here. Don't confuse it with 800113 March 2000 203-11-2080 0.75 painful. Let's mention the reference number here and let's safe. Next is Al Zah, We are receiving the payment on 15 March 2023. This is the reference number. Let's copy and paste this. The amount is 846.50 and let's save. The next one is Peace Valley, 18th of March, 2023. This is the reference number and the amount we are receiving is this one that's painful, safe some at reading. Next one, 18th of March, 2023. This is the reference number and the amount is 12 70. This one painful safe. Next one we have Atlantis Depot Atlantis. This is the date, this is the reference number. The amount is this, 1,047.50 The first one, Painful and safe. Next one we have Beady Limited. This is the reference number. Let's enter the deed first 25th of March, 2023, and this is the reference number we have right here. Let's pace this. 1602, the first one painful. Next one we have Sweet Land, 29 March 2023. Let's mention the reference number. This is the reference number we want to settle. 115-41-1504 This is the amount painful. Safe March is done, I'll posit here. Just complete the March. Then we will move to the April customer receipts and May customer receipts. 51. Bank Receipts from Customers April: Now let's start from April 1. One is partly limited. Third, April 2023, the reference number, we have this copy and paste this. Let's search for the amount two double 672, double 69.97 If you don't find any particular invoice, I'll enter it here. Two double 69.972 69.97 and let's receive it on payment on account. Yes. Next one we have all Gali third of April. This is the reference number and this is the amount painful and safe. Next one we have party limited third of April, 2023. This is the reference number. Let's copy and paste this. 847.11 847.11 Let's enter it as a payment on account. Next one we have pat, it's six April 2023, reference number is 810. If it's difficult for you to find the exact amount of invoice, what you can do is sort by amount and then probably you can find the invoice. This is my invoice. Let's painful. Next one is Alai Limited six of April 2023, Reference number. This one, the amount is 661.50 basically in lot of invoices, little difficult to find the invoice, but if you have only seven or eight invoices, you can easily find out the invoice painful. And let's see, the next one we have partly limited. The date is tenth of April, 2023, in the reference number is 2,700 Let's sort the data, maybe we find that particular amount as you can see here, we easily found that. So 2,700 painful. Best, that's safe. Next one is Al Zahir, ninth of April, 2023. Let's mention the reference number, which is this, 1,745.251 is the amount. Let's click on Playful and Safe again. Next one is Party limited. Nine April 2023, reference number is this and 678. For these lots of invoices, it's a little difficult for you to find the particular invoice in that case. Just arrange it by amount and you'll find your invoice 678. Here it is, painful and let's save. Next one is cash sales. So for Casals, we've already created a customer for. That will also be considered in the same way. 13 April 2023, reference number. Let's mention it. This one, this is the amount 581.25 That's painful and safe. Next again, party limited. 16th, April 24, double one. Let's sort out the data. This one is our in voice, painful and safe. Next one we have Peace Valley, 18th of April, 2023. This is the reference number and the amount is 2162. Here is our invoice. Let's painful and safe. Next is Pat Train. Okay. 20th April 2023, Reference number is this and let's find out the invoice now. 570. This one is our invoice, painful. Now, right now we are only matching with the invoice numbers. But in reality, when we receive the data, we receive the customer statements. Right? We just confirm the statements with our records in the software. Then we match it in voice reference invoice numbers wise because multiple payments can be with the same amount but not the same reference. Let's say next one we have Peace Valley and the date is 22nd of April, 2023. Reference number is, let's space this. The amount is 2,941.10 This one painful. Let's say next is this customer 23rd of April 2023. This is the reference number. We have received this amount. Basically, its account is settled in full now, safe. Next is Mona Lisa, and the date is 25th of April, 2023. This is the reference number. The amount is 4,105.25 Let's pay full and safe. Next one we have again, Mona Lisa. 26 of April, 2023. This is the reference number, 1,719.40 painful and safe. Next one we have a pat 27 of April, 2023. Reference number is this, this is our amount, 569.94 Let's painful and safe. This is all the customer receipts done for April. In the next video, we will do it for May. 52. Bank Receipts from Customers May: Now let's start entering the May transactions. Select the bank customer receipts. Fourth of May 2023, Reference number is this. The amount is 843.60 This one painful and safe. Next one is Pat pat 001. The date is fourth, May 2023, Reference number is this, 912. This is the invoice, Painful, safe. Next one is Paladi Limited, Fourth of May, this is the reference number, 509.75 Painful and Safe. Next is again Aldi Limited, but the date is changed, that's why we entered that one separately, Six May, 2003, 23 and 1328. This one is this painful and safe. Now, let's highlight this all receipts. Next one is Green Valley sixth of May, 2023. This is the reference and this is the amount. This is the invoice amount, painful and safe. Next one is Dad Limited, 11th May, 2023. What is the reference number? And that's the amount, 912, painful and safe. The next one we have Sweet Land, 12th of May, 2023, reference number is this, and 725.35, Let's arrange the amounts in the ascending order. Painful and safe. Next one we have Peace Valley, 14th of May, 2023, and the amount is 1095. Reference number. Let's page that. Next one, we have omenia latest, this reference number. Let's copy and paste that. This is the amount painful and safe. For the next one, we have peace. 17th of May, 2023, This is the reference number, the amount is painful, safe. Next is cash sales 70 of May, 2023, reference number is 928 painful. And let s the next one we have general reading. 19th of May, 2023. Reference number is this 3751, painful and safe. The next one we have party limited, 22nd of May, 2023. This is the reference number, 37203720. Let's crawl down. This is the amount painful and safe. Next one we have Belladi Limited 24th May 2023 P the reference number. And this one is the amount. Select this, painful and safe. The next one is Algal 27 May 2023. This is the reference number, 921 is the amount painful and safe. Next is Peace Valley, 28 May 2023. This is the reference number, Paste. The amount is 1275 painful and safe. Next one, we have trading 29th of May, 2023. This is the reference number 13. 80 is the amount. Select this, painful and safe. Next one we have Sweet Land, 30 in 2023. This is the reference number 1,687.44 This last one, painful and safe. All May transactions are also done for the customer receipts. In the next video, we will move to the Supplier Payments. 53. Payments to Suppliers and Bank Payments March: Now we will enter all the Supplier payments. This data is also of three months, from March till May. Let's enter this one now I'll select HSBC banks because all of these payments and receipts are done from HSBC. Just select the bank and click on Supplier Payment. We will do all from here for the first one. Date is third March 2023, reference number is this. Let's copy and paste tests in the pay. We will select the supplier is its spending amount. Select this, painful and safe. This is how we do for all the other. Next one we have third March 2023. The amount is this. Select this, painful and safe. Next is for fourth March 2023. Check number, reference number is this. This is the pay 315. This is the amount painful, safe post using this date. Next we have a fifth March 2023, and this is for Tescali. This is direct. Tabe says 37.08 painful and safe. Next one we have this supplier. Let's enter this painful or this amount and safe. Next is CRS 133.49 is the amount painful and safe. 10,000 Next one we have Gani. Now the reference number is this date is ten March 2023. Now this is a partial payment because this is 10,000 and as you can see this is 18,000 What we can do is we'll settle 10,000 from here. This is a partial settlement. Let's next is Sara wages. Because it is wages. Sara wages, cages director wages. As you can see, there is no supplier for that. This is our personal employees. Let's close this and select the same HSBC bank and go to bank payments. Here let's select the bank, this is HSBC already selected. This is of tenth March reference number is this nominal code. The nominal code. We will select the code for wages and we can go directly in the seven area because this is an indirect expense, Staff salaries as you can say. Wages. We will select this wages regular department. I'll get rid of this one project reference. I don't need that cost code. I don't need in the description, I'll mention this, that amount is 12 50. No text information mentioned 0.50 make it nine. We will consider it as outside the scope, is not applicable in that. Now for the same one, let's copy the field from the above cell. For that we will use the six key. We need to hold the function and key and then press six. As you can see that it replicates it in the down area as well. This saves you a lot of time when you're entering a lot of data. You can see that the date is also same. Let's copy this one as well. And six. Online transfer. The same nominal code applies on line RF, but here we have to write here Sara wages here. We will write here Clary wages. The second one is also same function key, and 69 outside the Vat scope. Let's select this one, Director wages don't get wages actually, they get the remuneration or salary. Same account is wealth of March 2023. It is online RF directors salary, we will consider it, you can actually charge it in gross wages. Gross wages seven double zero. Just charge it in 7,000 In the description, I'll write direct wages. If you want to copy and paste this one as well, we can do the same. That's 500 might be a partial amount. Let's see, this is how you enter the pay payments. Let's go back to the suppliers. Hx date is 15th of March, 2023. Check number is this. The amount is 748.507. 48. Again, we can't find the 748 amount. What we can do either you can settle it from any invoice in the partially or you can receive it as payment on account. Also, I can see this problem we will see in future. This problem is it shows in the details that gun money and it is entered under but she's invoices of lex, we will check that later on anyways. For this 1,748.5 what we can do is I'll go to company, I'll go to corrections here, you can write that amount, 748.50 No, there is no amount entered. Basically what I was thinking that maybe invoice is entered in some other area. For that, you can go to Company and Corrections and right here, that same amount or the invoice number, in that way you can find that relevant transaction. Anyways, for this one, I'll settle it as 748.50 payment on account. Next one is pay paid. This is also not a supplier. Select the bank and go to bank payments. Here, let's enter the date first of March, 2023, reference number we have this nominal code is P. If it is sorted according to the account number, if I hit the alphabet key, it will not work or find our relevant ledger. What I'll do is I'll select this, make sure that the arrow key appears with the name, and then write P. We can easily find this ledger 161.58 Text is not applicable outside the Ad scope. I like this. The next one we have this one Pagerani select the bank. Let's go to Supplier payments and right here the supplier 17th of March, 2023, check number says 156 is the amount painful, let's say highlight this. Let's move to the next one and that is Talk Talk. 18th of March 2023, check number cry 0.16 We have received the payment this one and safe. Next we have this del 18th, March 2023. This is the reference number or check number. This amount is select this painful and next one we have this supplier. This is the reference number. The amount is 9,500 painful and safe. Next we have orbit 26 of March 2023. Check number, reference number is this and the amount is this one, Painful and safe. Next one we have KBM 30th March 2023, Direct Tabit. This is the amount painful and safe. All of the supplier payments for March are done in the next video, we will continue with the Apple. 54. Payments to Suppliers and Bank Payments April: Now let's start entering the transactions for April. Select the bank. First supplier is Thames Water. I'll go to supplier payment, right? Thames Water here. Direct debit, it's mentioned here. Okay. Date is first April 2023. Reference number is this. I'll write direct debit here. This is the amount, 1,475.80 Now, this might also be a partial settlement. I'll settle it here. 1,475.80 Let's say next one we have again. Sarah Wages, Clary wages, and Director wages. Close this. Select the bank payments date is second, April 2023. Reference number is online, RF, nominal code was 7,000 Online Tierf, I'll write first put a dash and then Sara wages, that amount is real, 50.50 it's nine press tab. Come on the second line and let's enter the new one. Hold and key and press F six. If the deed is same, press six again and press F six again again. Here, I'll press F and F six. You can copy and paste Clary. Wages here amount is 1,250.50 It's nine press tab. The next one we have is director wages, date is same, F and F six. Now this is director salaries on line. Trf right here. Directors salary 509. All of these transactions are entered. Let's save this. Now let's continue with our supplier payments and that is for third April 2023. Select the bank, go to supplier payments, This one is for Thames Water third April 2023. In the check number, I'll write direct pit here, The amount is 81. This one also looks a partial settlement. Let's settle it here. Or what you can do is write 81 here or we will clear it in the sequential order like I showed you earlier, right one here. And write and hit automatic here. It will automatically settle this small amount of invoice in full and the partial amount settlement will be cleared here. Now let's save this next one. We have T Mobile. This transaction is for Fourth of April, 2023, check number is Direct Tabit. The amount is 12,050.60 painful and safe. Next one is six. April 2023, check number is direct debit. I'll place here. This is the invoice amount 36.07 painful and safe. If it ask you for the date, I'll use post using this date. Next one we have CRS date is eighth April 2023. Check number. I'll mention this reference number here. The invoice amount is 45.36 This is the invoice amount, painful and safe. Next is IDT 001, 11th of April, 2023. The check number is this and 1,500 is the amount. Go to the payment area and pay in full. Let's save. Next one, we have label trading right here. Label trading. Label trading, 12th of April, 2023. And check number is this, 240, painful and safe. Next one is British Gas 13th April, Direct debit, copy and pasta. Go to the payments, click on Painful and Safe. Next we have Healing Counsel. Date is 18th April 2023. Check number, I'll write this here. And the amount is partially settled because as we can see that the total amount is 1971. 0.60 out of which we are clearing 16 43. Let's write 16 43 here. Now let's save. Next one is for 21st April 2023, pay is PG. Check number is this, and this is the invoice amount. This one. Painful and safe. 55. Payments to Suppliers and Bank Payments April Continued: Now let's continue further. If I want to confirm that whether or not I have entered this particular invoice, what you can do is I'll select the HSBC Bank. Just double click here and click on Activity. Here, you'll see most recent transition. You can just arrange it in ascending and descending order. This is the last entry that I made of 1920. That's perfect. Let's highlight this and continue forward. Now select the bank. Next is BP. I select the bank and click on Supplier Payments. Bp I 22nd of April 2023. This is the reference number or check number 2,684.16 This one is the amount painful and let's save next one. We have again BPI 22nd of April. We could have saved it in a single transaction as well. 1,287.36 Now, there are multiple invoices for that. Let's settle it against this one because this will be adjusted automatically with the credit. Just select that. Painful and safe. Next one is Gani. 3,800 is being settled. Let's write the reference number here. Date is 24 April 2023. Amount is 3,800 So let's settle it here from 84773800 and let's save Next is Natco 30 April 2023. Check number is this 1368 painful. Save Next again we have Natco 30th April. Reference number is this, this is the payment painful. Let's next is bag 15 84. This one is the invoice painful. Let's change the date and the last one is Macro 30th April 2023. Check number is this reference number. Let's mention and Payment. This one is the invoice amount, painful and safe. The April transactions are also done. Let's move to the transactions now. 56. Payments to Suppliers and Bank Payments May: Now these are May transactions, first ones are for wages. We will close this. Go to HSBC bank and click on Bank Payments. The first payment is off third, May 2023, and the reference is online, TRF 7,000 Paste it here as well. 1,250.5 0.9 Next one we have Clary wages hold N and press F66 6.7 thousand. Just change the description to this. Same goes for here. And 1,250.5 0.9 Next we have, let's copy this. Copy this one as well. It on third me. Yes, director wages. Let's copy this, 7,001 Let's copy the same here. And 509, let's save all these salaries. Entries are all done. Now let's continue with the supplier payments 13th of May, 2023. Reference number is this three double 52 is the payment amount painful and safe. Next one is Talk Talk Supplier name 16th of May, 2023. Check number is this reference number. The amount we have 35.69 This one is the amount painful and let's say next one is congestion charges. Congestion charges because it is a charges it will not be included in the supplier payment. Obviously I've showed you here as well, there is no pay for it. Let's close this and select this and go to bank payments. The date is 18th of May, 2023 Congiong'. Paste it here for the nominal code. Let's find it according to the names right here, Type C, C. And you will see the concussion charges here. This is 7305, the reference number I can mention actually this one. These are the details 8.9 outside the at scope. Let's save. Next one we have a supplier payment, gold sand supplier payment. Make sure you select the right Supplier date is 20th of May, 2023. Check number is this, The amount is 646. This is paid in full. Let's check the next one as well. This is for the new date or other date. Let's save it here. Reference number is also changed. Next one is also gold sand, but this time date is changed to 22nd of May, 2023. Reference number is this. The amount is 90 painful and safe. These both are done as well. Next one we have Pag 001. Date is 23 May 2023. Reference number is this, The amount is 1980, painful and safe. Next one is Churchill, Fred. Let's check this here. Churchill Freight is the supplier 23 May 2023, past share 742 is the amount. So select this painful and safe elementos. Next one, 26 of May, 2023. This is the amount painful and safe. The last one we have cold sand again, date is 27th of May. This one is the reference number. This is the payment amount, painful and safe. All of the customer receipts and supplier payments are done. Let's move to the next task in our assignment, and that is the most important part, which is bank reconciliation. We have completed all of this assignment, transaction by transaction and in large quantity, just so that you can understand the bank reconciliation process in detail. 57. Bank Reconciliation Part 1: Now that we have successfully completed all the sales purchases, credit notes, and we have also entered all the bank payments and receipts, now we are going to see a most important area and that is bank reconciliation. In exercise seven, we have the bank statement. Let's open that. Now, here you can see that this bank statement is for HSBC Bank and the transaction starts from 28th of February 2023. If we see the first transaction, there is a reference number, details and there is a receipt that is loan from director and after receiving the balance is 26,056,656.55 That means when we start the reconciliation, we will mention the starting balance as zero. We'll consider it as zero because this is the first time we are doing the bank reconciliation in Sage. Let's go to sag under the bank, we will reconcile HSBC bank and the balance is minus 6739. If we see the ending balance of our assignment, it is 19,656 It looks like a huge difference, but you don't need to worry because we will enter or make adjustments of this receipt, which is a major transaction that is loan from directors. It clearly looks like business doesn't have enough funds. It has received the loan from director. If you have some different balance, you don't need to worry because when we perform reconciliation, you will learn all about how to make the adjustments, how to make any corrections. Let's select the bank and click on Reconcile. Now under the statement reference, it shows you the reference like this. This 1,200 is the nominal code of the bank, This is the date, this is the current date on which you are reconciling. And this is statement number one. Now, ending balance. I'll mention the ending balance, same as we have here. Statement date is the current date. Now we also have an area of interest earned and the account charges that is paying charges, but we will not mention it here because we are reconciling three months, not only one month. We have multiple bank commission charges, bank charges that we need the adjustments of. We will do it from the inside. Let's click okay. These are all the transactions. Now, all the unreconciled transactions are listed above. And this is the special area when we reconcile a particular balance. What we will do is we will just select that balance that we confirm from the bank statement. If both of the records have that same transaction, we will select that and click on Match. This is how we do it. Let's unmatch right now. Now, the first transaction is of 28 February 2023, and it says Loan from directors. Let's search for this transaction whether we already have that or not, even though we know that this transaction doesn't exist, let's learn how to find the particular transaction. I'll go to find. And if you have a particular reference number that is unique, that is great. You can just mention the reference number and search in the reference field. Otherwise, you can find it by amount. Let's mention the amount here. And I'll click on Net Amount, select Net Amount, and find. If it doesn't show any information, that means that you don't have that particular transactions. If we don't have that, let's enter this. How will we do that? I'll go to adjust at the bottom area here and select the type of the adjustment you want. Now, this is a receipt for our business because it's receiving this amount in loan, but at the same time, this is a liability for the company. The company needs to settle that loan down. Right now, the adjustment type will be bank receipt. Let's click Okay. We're receiving the money in HSBC. Bank date is 28th of February 2023. Let's mention that date. We can mention this reference number we have here. And since it is a loan to the company, we can find the loan area. The liability starts with two series in the nominal codes. If you find it by two, that's great. But if you don't, you can find it by name as well. Just sort by name and search for loans. Right now, it's easier for me to find it by the number. These are the loans, although it doesn't mention loan from directors. We can change the name later on, but we will use this one. This one is suitable. Copy and paste the details. Here in the net amount, I'll just copy this receipt and paste it here. If it doesn't allow to paste you directly, then copy it from here. And I was having some problem. I mentioned that receipt amount manually text code is nine, that is outside the Vat scope. Let's save. When you save the transaction, it shows up here. That means it is entered and reconciled with the bank statement. Next transaction is bank charges. Again. Most of the time you will get to know the bank charges only when you see the bank statement. So obviously it will not be in the records right now, even if you try to searches. Let's copy here and go to Sage. Click on Find now net amount. Paste it here so we don't have this now. To make the adjustments, I'll go to Edges, but this time this is a bank payment because it's taking the money out of the bank. Let's select bank payments. The bank is 1,200 That is HSBC Bank second of March, 2023. The reference number, I only have this reference number, but if you have the original bank statement, it might contain some other unique references as well. So make sure to use that number for the references. This is the bank charges. All the bank charges are an indirect expense for the company. Indirect expenses starts from the Salmon nominal code. Let's scroll down. This is the bank charges. 7901 is the code, if you want to use that directly. This is the code. Bank charges details, let's mention that. And 35.50 35.509 outside the Vat scope. And let's save and close now the next one we have the transaction for third of March, 2023. The amount is against the purchase payment. 16.74 is the amount. Let's find out, this is a payment. You can sort the payment in the alphabetical order. This is the amount 16.74 reference number is mentioned. If you don't have the reference number mentioned, we can also adjust that in the records. For example, if we didn't have any reference number, you want to mention that. Now, how will we do that? Particularly when we are in the middle of paying reconciliation. That's not a problem. Whenever you want to quit and you want to continue like tomorrow or anytime, you can disclose that. And it will ask you to save the reconciliation at this point. And I'll click Save and you can simply exit from that. Now if I want to make any correct, let's say we don't have any reference number with the transaction. I'll go to company and click on Corrections. I'll write 16.74 because right now we don't have the reference, right? It we'll find out all the 16.74 transactions, all the invoices or any payments. Now this is, P means purchase payments. P, I means purchase invoices. I want to mention the reference number here. I'll just double click here. Click on Yes. If you don't have the reference number, this will, will be blank. You will just copy and paste it here and save that. The great part about this adjustment is since it doesn't affect the accounts, it does not involve any amount changes or any nominal code changes, particularly, this will not be marked as red when we make these adjustments in the audit trail, it will not be marked as red. Let's go back and we can see as well that when we made the adjustment majorly of this amount, now we can see our positive balance here. These are some of the initial transactions. Just do these three transactions until now and then we will continue to the next part. 58. Bank Reconciliation Part 2: Now let's continue further and our next transaction is of third March 2023, and reference number is this purchase payment. The payment amount is 9540. If I want to find it by amount, I can find it from here or otherwise you can just sort it. It's better to sort it in descending order because we can easily find that because it's a big payment. 9540. This is the reference number, exactly matches. Just select this, highlight this, and click on Match. Next we have is 315. This one is the amount. Just confirm the reference number and match. Afterwards we have the bank interest, and this is bank interest paid 3.56 We might not have this amount. Yes we don't. I'll click on Just click on Bank Payment. Click okay. This payment was on four March 2023. The reference number, we have this reference number. This is bank charges 7901. This is the bank charges. Let's copy and paste the details, 3.569 and save. As we save this, it will be matched as well because we saw the bank statement and then make the adjustments obviously. Now it exists in both the bank statement and your software records. Next one we have is 37.08 This is a direct debit. Let's check this, 37.08 This is the figure. It's a direct debit on Fifth of March. It exactly matches here. Click on Match and highlight it from here as well. Next one we have is 6864. Again, let's set it in descending order, 6864. This one is the payment, and the reference number is 10132. Click on Match and highlighted here. Next one, we have a sales receipt of 474. Let's sort the data. 474, we can't find it. Let's click on Find. It's 47474 in the net amount. Let's find first here, this one is the amount actually the reference number was missing. It should have the reference number here mentioned. It's of seven March. But as you can see, the reference number is here. But we don't have it here entered. To enter the reference number, I can click here and click on. At the current point, click Okay. If you want to make some adjustments or let's say add the reference number. I'll go to company and click on the corrections. Here, I'll write this amount 474. This one was a sales receipt. And as you can see here, reference is not mentioned. Just double click here. Click. Yes, you can easily mention the reference number here. Save. Do you want to post the changes? Yes, Let's continue with the reconciliation you saved. Now you can see that if I click on Net Amount 474, we have this one mentioned with the reference number. Let's click on Match. Highlight this. 59. Bank Reconciliation March Part 3: Our next transaction is of seven March 2023, and the sales receipt amount is 160. Here we don't have any reference number, Let's check this. On stage 160, we can't find the exact amount, so I'll click Confined. Right, 160, this one is the transaction. You can confirm date here. If you can't confirm the reference number, just try to make a second confirmation whether it's date or any other thing. For example, we have multiple payments of 160. For one, it's showing seventh March 2023 and the other one is eighth August 2023. Obviously, it will match the date that is mentioned in the bank statement. It should match that. Let's highlight this. Click on Match here. Let's move to the next one. We have 210, right? 210 here, 121, match. Actually, it's better to click on Find. Every time you don't have to sort or scrawl it, you can just simply click on Find and get the figure. Next, we have 734.88 Let's try that. I copy the figure and paste it directly here. It works or not? Yes, it can be pasted. This is the sale receipt. Let's confirm the reference number here as well. We don't have the reference number. Let's confirm the amount date. The transaction date is eight March 2023. Let's click on Match. Next we have 367.35 Again, let's copy it from here. Pasted here, and find this is the amount. Click on Match. Confirm the date as well. That's eight March. We also have the reference number for this particular sales receipt. Next we have the bank interest received. It should show in receipt 3.55 most probably. We don't have that. Yes, we don't. I'll click on just and click on bank receipt because we are receiving the interest payment in the bank date is eighth of March, 2023, reference number. I'll mention this as a reference number and it was 79 something, 7901. Let's copy and paste the details. It is 3.55 outside the scope. That is nine. Let's save and close. Next one is our direct debit and the date is ninth of March, 2023. Click on Find Amount is this. Let's copy and paste that. This is the amount and the date matches with the payment date. So click on Match and we're done. Let's highlight this as well. Next is 785, it's of tenth March. Let's copy the amount. Go to find Paste here, and click on Find this one right here matches exactly. Let's match this one as well. Next one we have 10,000 that is a payment on account. Let's check this one now, let's copy and paste that. This is the amount it's of tenth March. Reference number is 1w01. 29. Yes, this one is the transaction. Let's click on Match to the next one. We have five double 0123. Now if I find the transaction by the reference number, let's say this one, it might find multiple references here. It's better if we just find from the amount and then make a second confirmation from the date. This one is the sales receipt, one double 45.50 Actually, it says tenth of March 2023. Tenth of March 2023. I think that the amount need to be adjusted, one double 45.50 here it says one double 45 reference number and all is okay. The more authentic one is what is reflected in the bank account. Here, we have to change the figure. Let's close this, save it for this point. Go to Company and Corrections, right here. This amount 0.50 This is the seal receipt amount. So we have to change both of them safe. And let's change this one as well. Close and save. Post these changes, yes, so now it shows it as a deleted or canceled transaction. Now if we write 145, we have these transactions right here. Let's go back to the bank. Select the bank and click on Reconcile. Continue with the reconcile, use Saved, click on Find Pace The amount here again, chang it to Net Amount and click on Find First. Now this one matches exactly. Let's click on Match. Next one we have 315. Here it is, 315 against. The reference number is 50123, and it's of tenth March 2000. 2310. March 2000, 23.5 double 0123. Yes. Perfect. Let's click on Match, and highlight it here as well. Next we have 1,250.50 Let's click on Pace. The amount it shows here, 2501. Maybe we have accidentally combined two payments. Let's click click Save. Now I'll go to Company. I'll go to Corrections. We can write reference as online RF. Actually, here it's okay. It shows 1,250.50 on 1,250.50 which makes the total of 2501 that exactly matches both of them. As you can see here, 2501 is the total in the sum. But it is showing that as Sara wages clary wages is not shown separately. Why is that? That might be because we entered both of the transactions in the same batch invoice page or something. For now it exactly matches. So we can save it, but otherwise, if there's some problem, you can delete both of them and enter one by one that should solve the problem. Here it matches the amount. Let's highlight both of them as cleared, or what you can do is just find this number, 405. And here you can mention online TRF of Sara and Clary wages. Let me show you how it's done. Let's close and save it. At this point, let's go to company and corrections. I'll select 405. This one is the payment. Yes, let's write Sara and Clary wages that we don't have any confusion. As you can see here, there's two transactions showing up here, the two line items. Now, if we see the reconciled one here, it mentions Sarah and Clary wages. Now it's cleared and it will also not cause any confusion. Next one we have the transition of tenth March. The reference is, we will find this out by amount. Find paste it right here. Search in the net amount. Find this is the receipt amount. Let's confirm the reference number as well. Tenth March, and 501-235-0123 That is perfect. Let's click on Match and highlight from here as well. Next transaction is of 12 March, and it is an online RF, Feb 11 salary. Whatever it's mentioned, it's basically a director salary. The amount is 500. Let's find this out. It's right here. It's an online RF paid on real March 2023. And it says online RF director wages or remuneration, whatever you can say. Let's highlight this. It's perfect. Let's clear this. The next one is 161.58 Click on fine. This is the amount, it is a purchase payment. 101-351-0135 It's a pay paid click match. Next is 436, amount not found, 501 to four. Let's find out that. Maybe that's because also these are showing as a combined payment. Let's find 4532 because this is against the same reference number, right? 532 must be there. Yes it is. 532 is the receipt amount against both of them. Let's click on Match and highlight both of them. Next one, we have a sales receipt. Click on Find Patient right here, and search. All the large payments can be easily found in a single transaction. But for the minor transactions or the small amount transaction, we make a single payment for multiple references or multiple invoices, you might find a combined amount in the bank reconciliation. But for the larger amounts, you can simply find out with the exact amount it exactly matches. Just confirm the reference number once and click on Match. Next one, we have a bank commission charge. It will not be in the records. Click on Find. Yes, it's not, and it is a bank commission charge. Under Payments, we will click on Adjust and click on Bank Payment. Click Okay. The date. Let's mention the date as 14 March 2023. Mention the reference number and it's a bank commission. Let's find out the best area for that. Actually, we can consider it as bank charges. There are all different charges included in that. In the details, we can write bank commission charges, the amount is 56.50 Now you cannot copy and paste directly in the net amount. You have to write manually 56.58 and it's a nine with outside the Vat scope. And let's save and close now. This bank commission charge is also showing in the reconciled section. Let's highlight this and move to the next one. Next one, we have the transaction of 14 March again, and the reference number is 50126. But we will not concentrate just on a reference number because the same reference number exists for other payments as well. Let's copy and paste the amount. Find make a double confirmation before matching. And let's match next one we have 1,436.45 This one is the amount 50,126.14 March. Let's click on Match. Next one we have this amount. Let's find out reference, number and date matches. Let's click on Match and highlight a 0.29 Next one, click on Find. This one is the amount, reference number and date should match. Click on Match. Let's move to the next one. Next we have 3825. Let's copy right here. Select the Transaction and click on Match and Highlight. Let's do it quickly for all the remaining payments of the March. Let's copy and paste the next one. Actually, we can see it directly here. This one is the payment. Let's confirm with the reference in the date, and let's click on Match. Next is 846.50 This is the one 15th of March. Let's click on Match and highlight here as well. Let's move to the next one, which is 279.91 Pat it right here. This one is the receipt amount. Let's confirm with the reference and the date quickly. Perfect. Let's click on Match and highlight it here. Next one, we have a purchase payment, and this one is a payment. Let's paste here. This is showing under the payment, the reference number is one double 0136. And the 17th March. Perfect It matches like this. Next we have 1270. Actually you can just skip this part or move to the end directly if you go out until now how to reconcile the whole bank. But I'm still doing it and make the complete video about it. Because whenever you want to confirm some particular transaction and how I did the treatment of that, you can just watch this video. Otherwise, you can just do it by your own quickly. And you don't need to see this video till the end. Just do it by yourself. And when you have any problem, you can always check back with this video. Next one we have 18th, March 15, 28. Find this one match. Next one is 36 match. Next one we have 20.16 This is the payment amount of 18 March. All good. Let's click on Match. The next one we have 9,500 a big payment. So we can see it here directly. We don't need to find it 20th March 2023. And the reference number is a good Click on Match and highlight it here as well. Next one we have 1602. Let's copy and paste here. This is the amount receipt amount. Copy with the reference is 25 March 2023. Click on Match and paste it right here. The next one. This is the purchase amount. All good, and click on Match. Next is 1,047.50 Find this one, this is the amount. Confirm the reference number and the dates and click on Match. Find the next one. This is the amount and the reference number, and click on Match, the last payment for the 30th March. This is 360. Let's paste it here, 360, it's of 30th March. Click on Match and highlight it here. March is done, but we will do the same thing for April and May as well. So that it will be in the video record that whenever you have some confusion about a particular transaction, you can always check back with the video. But besides that, you have already figured out how to do the Pac consolation. So you can do it by your own. You can skip the other two parts and just move directly to the results. You can see with the said the March is complete. Now in the next video, we will do it all for April. 60. Bank Reconciliation April: Now let's continue for April. We have this open right here. Next one we have 1,475.80 Now we have to confirm the April dates here. As you can see here, the payment is this references static Tbit, and now it's date for first April. Let's click on Match here and highlight next one. We have Clary wages. Let's find this. This one is for May. Maybe this all are done in a single transaction because this is of second of April. This is a online RFs and all of these different amounts. So we have to find out for three double 01, let's click on Find and three double 01. And you can see here that the amount is there, but it only says online RF for Sara wages. What we need to do now is just confirm the reference number that is 417. Close it here and click on Save. Remember to always click Save before exiting the bank reconciliation. Otherwise, your bank reconciliation will be not saved. And you will mess that up. Always click on Save. 417 is the reference number. I'll go to company and click on Corrections. Here, I'll write 417, this one is the payment. And I'll just double click to open it. Click on, yes, this is against the three payments in the description. I have to mention now Sarah Wages. You can also mention it this way. Director Wages, you can also write here 1,250.50 Then we have mentioned Sara again. 1,250.50 and put a comma. And then 500. Let's see, let's check the pink here. Now let's click on Match. Next one we have a bank charges 52.50 We don't have that. Click on it, just and this is a bank payment, right? Actually what we can do is we can just freeze the headings. Just select this B three. I'll go to view Click on Free Spines and click on Freeze Spines. Now we can see the headings directly. Bank payment date is second of April, 2023. Reference number we have this nominal code is 7901. Paying charges, the amount we have is 52.50 it's nine and save. It is saved and matched at the same time. Let's highlight this here as well. Let's continue further. We have 47.11 This one is a payment on account. Let's click on Match 81, again, a payment on account, and this is for third April. Let's click on Match. Next one we have this receipt amount. Let's copy here. Click on Find. Let's Paste it right here. And click on Find this one right here. Reference number is 500-13-1500 131, all good. Click on Match. Next is 603.50 Find this one is the receipt. Click on Match and highlight. Next is 125.60 Let's find, this is the amount. This is a direct debit. Yes, it is. And the fourth April is the date. Let's click on Match and highlight here. Next is a bank interest paid. It's not there. Click on Adjust and click on Bank Payments Bank Interest Paid. We will consider it as a bank charges. Let's see what we have available. Let's sort it by name, Bank Interest Paid. We have a separate category for that. That is good. 7,900 right, bank interest paid. It's copy and paste the details here. 33.52 33.52 And this is outside the Vat scope and safe. Again, we know that whenever we make some adjustments being within the reconciliation window itself, it automatically adds the payment. And at the same time, it moves it to the reconcilation section. By the way, you can move this section down or up whenever you like. Let's highlight this one. Let's move to the next one, which is 661.50 This one is the mount right here and it's six April. Perfect. Let's click on Match and highlight it from here as well, 810. Find that, Click here, This is the amount. Confirm the reference number, End Date, and click on Match and highlight from here. Let's do it for 36.07 Next one. This one, let's match. Next we have 45.36 Click on Match. We have 678, which is a receipt match, 745.25 match 2,700 I'm confirming every single transaction with date and reference number along with the amount, so keep that in mind. Right, next we have 240. This one is the amount. Let's click on Match and highlight. Next one is 581.25 Find this one is the amount 13th April a Good. Let's highlight here and click on Match. Next is 21.47 pace here, find it. That's our direct debit and the date is 13th of April. Let's click Match and highlight it here. Next is 24 double 1.50 Let's click on Find here. This one is the amount five double 0138. Let's highlight this and click on Match. Next one we have 16431643. This is the reference number and the date. All good. Click on Match here, and let's highlight this. 2162 is next one. Find this one, the reference number is 20139 on both sides. Let's click on Match and highlight it here. Next is 570. This one is the amount and the reference number is the same. Let's click on Match and highlight next one. We have 1920. This one is the payment. Let's confirm it. The date 21st of April, 2023. It should be. Let's match and highlight it here as well. And quickly move to the next 12941. This is 2941. This is the reference number five, double 0140. All good. Let's match it here. And highlight from here as well. Next we have a purchase payment. Let's paste it here. This is the payment. Just confirm that as well that you don't accidentally have entered in receipt. Just confirm the sections as well. Don't just match the amounts. Don't just hurry up in matching the amounts. Just mention and confirm the reference number. Just confirm the date and the side of the amount as well, whether it's a payment or receipt, Just confirm that before actually reconciling. Let's click on Match and highlight it here as well. Let's move to the next one is 9.80 and since it is a bank interest payment, it will not be in the account. Let's find out every time You just don't presuppose things. We have to make sure it's there or not. No, it's not. I'll click on Gt. Let's see what it is. A bank receipt. I will go in the bank receipt. We are receiving this. On which date? Let's check. It's second April 2023. 22nd of April 2023. Let's mention the reference number here. It is a bank interest that is received, bank interest received, let's mention that as a miscellaneous income. Actually, we need to confirm for some other transactions as well, for 3.55 otherwise we need to change the category or the nominal code, which is, again, not very difficult. It's easy. We will make a second confirmation for that one as well. It's 9.809 Let's see if next one we have a purchase payment. 2,684.16 Find it. This is for 22nd of April. Let's click on Match. Just confirm the reference number as well. Click Match, and let's highlight here. Next one is a sales receipt. 50142 is the reference, 50142. Perfect. Let's click on Match and highlight here as well. Next 3,800 and this is a payment on account. Let's click on Find, Paste It right here, and it Purchase Payment. The reference number is 1w01 43. Click on Match. Now, payment on account, and we have our purchase payment showing why this is a difference. Because for some transactions we've supposed that it's a partial clearance against a particular invoice, but in fact, it was not that clearance against any invoice, rather it was posted in the assignment as a payment on account. That's the only difference, but doesn't matter. You have the transaction matched. The method varies from person to person. What we need to focus on is that the ultimate outcome should be correct. Now let's move to the next transaction. Paste it here, Find, this is the amount. Let's click on Match. Next one. Let's click on Find. Pasted, right here. This is the amount. The reference number is 501426 of April. Let's click on Match and highlight here as well. Next is 569.94 Again, this is a payment, this is a seals receipt. Let's click Match here and highlight next one. We have our purchase payment 15 84, click on Match. This is a purchase payment 30th April, purchase payment and 30th April Next is a purchase payment again of 30th April, 1 0149, all match. Next one is 1,623.90 This one right here is the amount, this is the reference number mentioned. It's of 30th April. Let's click Match and highlight here. Next one, we have 1368. This one is the payment amount. The reference number is 10146 and 30th April. All good match. The last one we have is the bank charges. This is a bank commission charge as a payment bank commission. Let's click on Just Transaction Is of 30th April. Right here, bank charges, bank commission charge, it was 79 bank charges. Let's mention it here. You can even create a separate category for it. This is under nine, all good and safe. It's also reconciled here. Let's match both of these. This is April done in the next part. We will continue with May and we will also recheck some of the entries that we did manually, whether or not we have selected the correct area, especially for the bank receipts. Because the bank bank interest receipts must come under miscellaneous income and not some other category, we have to check that as well with the said. This is March and April done. And from the next transition, we will continue with May. 61. Bank Reconciliation May: Now let's start the next month, and that is starting from second May 2023. And the first transaction is bank charge. Let's search for the bank charges. We search that, we don't have that bank charge is paid. Just click on Bank Payments. Click okay. Here we are. Second of May, 2023. And the reference number, let's copy and pace this bank charge here. 79 something. 7901 is the bank charges. Let's copy and pace the description Mention here the total amount text code is outside the scope and safe. Let's highlight this. The next transaction is of third May 2023. That is directors salary paid. If we will search for this 500, we might not find it because as it is in the same date, we have entered a combined entry for that. Let's search for three double 01. Now let's search for three double 01, or let's say three double 01. Okay, Okay, we have it here right in front of us. What we can do is we can just select three of them and click on Match. It will transfer all of them to the reconciled area. Next one is a payment received against a sale receipt. The amount is 843.60 This is the amount. Now, since it is only few transactions left, you will find most of them directly. Click on Match, just make sure that the reference numbers are correct. Double 0146, and this is for fourth of May, 2023. Next month we have a bank interest paid. Let's click on a just again bank payments, we are paying on fourth of May, 2023. In the reference number, I'll just copy and paste this bank interest. Since the bank interest is made as a payment, bank interest paid 7,900 is the nominal code. Let's copy and paste the details. And 22.869 outside the T scope safe. Next is a sales receipt. The amount is 509.755 0147 and Fourth of May, 2023. Perfect. Let's highlight this, match it here. Next is 912.60 match 2,727.50 This 1.50 148 match. Now I'll just quickly match confirming the reference number and date. Next is this next one, we have 912725. 0.35 Three double 52, 1095, 474.94 Now for this one, as you can see that we have this mentioned date here is 16th of September something, but it was 14th of May. Let's close here, it's 479.94 Let's say go to company corrections 474.94 Let's mention the reference number. Double click. As you can see, the date needs the correction. Click Yes. Created on I'll change the date to 14th of May 2023 and now the date is changed. When we refresh it, it will show it as a canceled transaction. Let's go back to Ban and continue the reconciliation. You saved. This is 474.94 As you can see that this transaction has moved up also because it is sorted according to the dates. Click on match. Next one, we have a purchase payment. 16th of May. Next is 1718 match. Match. Next we have Agresion charges. Let's find that in the net amount. We have the Congression charges. Here. Just confirm the reference number in date and let's match Next one, we have 3751. This is a sale receipt and this is the details of it. Click Match. Next is a purchase payment. This one is it. Let's click on Match. Next is 3,720.06 lick match Next is 990, match 742. This one match 1980, match receipt 11 30 match 7852, Match next is 921, this amount this is the reference number Match Next is bank interest received, so let's enter that as a Miscellaneous Income and Save. Next is a purchase payment, 232.5 Let's match. The next transaction is of 28 February, 2023, and the amount is 12 75. Let's search for it, this is the amount. Make sure the dates are okay and click on Match. Let's highlight this next one. We have 13 80. This is 13 80, just make sure the dates are okay, and click on Match. As you can see that two transactions are remaining, but this one is for the other amount, we will check that later on. This one is a sales receipt, and the amount is 1,687.44 and that is for 30th of May. Let's match this. Now this one is remaining, maybe we have entered it two times in the reconciliation. We need to check that this one is 48.50 We need to search that 748.50 This is a payment on account on 15th of March, 15 of March. We need to check our bank payments for that specific date. On 15th March, we have paid X 748.50 I'll close at this point and I'll click on Safe. Just note down the reference number 10127. I'll go to Company and click on Corrections. This one is a payment on account. Now what we can do here if we delete this item, let's say let's go to the invoices and search for this amount. Now as we can see here that if we talk about the supplier, we need to search for it first in the suppliers, the supplier activity of Charlex Auto. Exactly what we have entered here. To check the activity, you will just double click on the Supplier Terms are not agreed. So I'll go to Credit Control and click on Terms Agreed. Okay, I'll go to Activity. These are the transactions. We can clearly see here that Cavani was entered in Charlex. That is wrong. We will also check this reference number, 162-461-6246 I'll select the reference and F16 246 enter. We also have an 17th April. Let's check the purchase invoice of 17th April. Anani should be entered, not on 17th April. 24 of April. This is a mistake. Now, how will we correct that reference? Number is also. This is the reference number. Let's close this. No. To save changes 16246, I'll go to Company and click on Corrections. 16246 is the reference number. This is entered in any but the supplier selected is wrong. Let's make changes. Select that, click on Edit Item. Here we can change the supplier to the reference number should also be changed to this one. And let's see now if we go to Suppliers, click on Supplier List. Let's check the Charlex Auto. Now just make sure that when you select two suppliers and you only want to select one, either you can clear all from here if you have selected multiples or you can just click again, single click again to unselect that. In this case, since I have a lot of them selected, I'll click on Clear. Then select Charlex. Auto only just double click. We can also check the activity directly from here. Just don't need to double click, Just select that and click on Activity. Now here we can see that transition is still showing as deleted. But these are deleted, so that's not a concern now. All right, Now we need to make sure that either we have entered all of the Charlex auto invoices or not. Cha 001 is the code. Let's check for purchase invoices now. Ha 001. The first one we have is first of March. Let's check the activity 161.58 including the text, so this is mentioned here. Next one we have 158. Let's go for manual filtering, Ch00 1, Second one we have 158, that's also mentioned. Third one we have 001, but that is mentioned here as an but, that is for char lex auto. This is a mistake in the assignment. We have already corrected that. The reference number was mentioned in the same way. And then we have 1601158. And this one right here, if you check the net amount, 748.50 what is this payment? There's no payment like that. I've made this correction here. Let's check here as well. This was the amount 748.5 Let's check for bank payments and receipts as well. Search for all the field 748.507 48.50 748.50 of 15th March 15 of March. 7 48.50 This is a payment 15th March. Now we have checked all of the transactions here in the bank statement. We have also checked the dates, but there is nothing like 748.50 paid that we have made the payment on account for this check. But that was a mistake. This was clearly a mistake. This is a mistake transaction. Why? Because Charlie's Auto, if we check the invoices of that, that is only two invoices. And that also of 319.86 there's no way we will be paying 748.50 to them. That's the reason this is an incorrect transaction. So it should be canceled like we just canceled, obviously since it was a check that was never paid in. Actually this is a wrong transaction, we canceled it from there. And also, we will obviously not find in bank statement that is correct to remove that transaction. This is a good thing that we have resolved this issue and we have seen this problem in reality, we will know how to check each transaction and how to figure out what is the reason exactly behind that. Now as you can see here. The math balance is this statement balance was. This statement balance was what we've seen here, 19,656 As I mentioned in the starting of the reconsideration, 66.16 is still pending, but when we enter this amount, the change might be a little different. Click on Dt, this is a bank payment. Click on Bank Payment. This is a bank commission charge on 29th, May 2023, we have a bank commission charge and that is 7,900 something interest bank commission. We also have the bank commission here. Bank charges, let's say this is this is paid amount is 88.56 Nine, let's see if we still have a balance of 22.40 22.40 After all the long assignment, I've checked it totally, but this amount I'm not able to find, but this is just a minor difference. 22.4 $0 If you click on Reconcile. Now let's see what happens. The final value of the mash transaction does not match the statement End balance. Would you like to add an adjustment? Ignore the difference, and reconcile Anyway, you can ignore the difference or you can add an adjustment. The mashed balance is actually lower than the statement balance. The statement balance should show 656. Let's add a bank receipt that we are unable to identify or we can ignore the difference as well. So it will post it in the suspense account or something like that. Miscellaneous payment. Let's enter it here. Something Miscellaneous Adjustment. That is 22.4 0.9 Let's see, now the difference is shown as zero. Let's click on Reconcile. Now, after the reconsideration, you also can check some different reports. Out here you can go to the reports. We have all the bank payments and receipts report. We have the bank payments report and bank receipts. Any report that you customize can be saved in my bank reports. We have reconciled and unreconciled reports as well. Explore all of them by yourself. This is the end of the bank reconsideration, part of the Starlight assignment as well. Now after the completion of this assignment, we will explore some different areas. This is small topics of understanding the other overall functions of line 50. So you can check out the last section and that is related to other tips and tricks.