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Sage standard Statement of Cash Flows

  • 1.  Sage standard Statement of Cash Flows

    Posted 07-13-2020 13:08
    SOCF is not my strong suit.  Should the ending Cash and Equivalent balance from one year be the starting Cash and Equivalent balance of the next year?

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    Beth Bowers
    Mom to Samson, Peanut, ChiChi, Canton, Cagney and Daisy (NO Oxford comma - shriek!)
    Beth Bowers
    269-445-1625
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  • 2.  RE: Sage standard Statement of Cash Flows

    Posted 07-13-2020 15:11
    Theoretically yes - as ending cash in Sage is beginning of the next period.  Unless I'm missing something.  Have you looked at the ending/beginning account balances to make sure there isn't a Sage problem?

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    Nancy Hanson
    Blytheco LLC
    Eagan MN
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  • 3.  RE: Sage standard Statement of Cash Flows

    Posted 07-13-2020 15:25
    @Nancy Hanson - I did.  I made sure the TB was in balance and I checked the ending balances of one year vs the starting balances of the next year.  It's consistently doing it (end of one year is not start of the next), but not by the same amount.​

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    Beth Bowers
    Mom to Samson, Peanut, ChiChi, Canton, Cagney and Daisy (NO Oxford comma - shriek!)
    Beth Bowers
    269-445-1625
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    Original Message


  • 4.  RE: Sage standard Statement of Cash Flows

    Posted 07-13-2020 15:39
    Can you tie out/reconcile the accounts it's using and does the SOCF balance?

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    Nancy Hanson
    Blytheco LLC
    Eagan MN
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    Original Message


  • 5.  RE: Sage standard Statement of Cash Flows

    Posted 07-13-2020 15:52
    @Nancy Hanson - that's just it - we can't find an account with an ending balance of the amount we are off by, which means it is more than one.  There are only 5 accounts setup as Cash type, and it does not equal the total of them (but I honestly don't know if it's supposed to).​

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    Beth Bowers
    Mom to Samson, Peanut, ChiChi, Canton, Cagney and Daisy (NO Oxford comma - shriek!)
    Beth Bowers
    269-445-1625
    ------------------------------

    Original Message


  • 6.  RE: Sage standard Statement of Cash Flows

    Posted 07-13-2020 17:06
    OH FOR THE LOVE OF.... @Nancy Hanson - after having gone back over every month for several years - I find that the client is posting directly to the Retained Earnings account, which is the difference we are seeing.   ACK!!!!!!!

    (Moderators - this can be taken out of Urgent now)​

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    Beth Bowers
    Mom to Samson, Peanut, ChiChi, Canton, Cagney and Daisy (NO Oxford comma - shriek!)
    Beth Bowers
    269-445-1625
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    Original Message


  • 7.  RE: Sage standard Statement of Cash Flows

    Posted 07-13-2020 17:08
    Gotta love it!!!

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    Therese Logeais, Technology Integrators
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    Original Message


  • 8.  RE: Sage standard Statement of Cash Flows

    Posted 07-13-2020 17:11
    Client doesn't have a crackerjack CPA on staff????  I personally have never used the standard SOCF.  Always simpler to spec it out in Excel.  Are all of your balance sheet items classified properly?  Only takes one wrong classification to hose the report.

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    Jeff Schwenk
    FORMER 90M Board Member
    Bottomline Software, Inc.
    Waynesboro VA
    540-221-4444
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    Original Message


  • 9.  RE: Sage standard Statement of Cash Flows

    Posted 07-13-2020 17:17
    I guess I shouldn't take 10 minutes to formulate a response.........

    I'm sure this happens more often than people think.  Many times CPA's will provide the client with YE adjustments many months after the fact.  The adjustments are usually plugged to retained earnings instead the proper revenue/expense account.  I always make an effort to help client do the right thing by opening up the GL year and post correctly.

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    Jeff Schwenk
    FORMER 90M Board Member
    Bottomline Software, Inc.
    Waynesboro VA
    540-221-4444
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    Original Message


  • 10.  RE: Sage standard Statement of Cash Flows

    Posted 07-13-2020 17:21
    Perhaps a preventative measure for the future would be to set the prior year retained earnings account to inactive.  This theoretically would prevent GL postings to it but I wonder what the effect would be when you run the YE close.

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    Jeff Schwenk
    FORMER 90M Board Member
    Bottomline Software, Inc.
    Waynesboro VA
    540-221-4444
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    Original Message


  • 11.  RE: Sage standard Statement of Cash Flows

    Posted 07-13-2020 17:24
    Something like this would also be nice for the control accounts (AR, AP, Inventory, etc).  This would prevent JE's directly to these accounts which tend to screw up the trial balances and inventory valuation reports tying to the GL balance.

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    Jeff Schwenk
    FORMER 90M Board Member
    Bottomline Software, Inc.
    Waynesboro VA
    540-221-4444
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    Original Message


  • 12.  RE: Sage standard Statement of Cash Flows

    Posted 07-13-2020 17:58
    Moved to Sage 100 Community.   ​

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    Moira Goggin
    Executive Director
    90 Minds, Inc.
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    Original Message


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