By integrating Plannit and Sage 50, companies benefit from simplified, more accurate and centralized management of their financial transactions, which not only saves time, but also improves compliance, control and financial analysis.
Step 1: Create a new customer account in Sage 50
Why create a customer account?
Sage 50 does not allow you to import journal entries into an associated account, such as your default customer account. It is therefore necessary to create a specific customer account for transactions coming from Plannit.
Open Sage 50.
Go to the Company/ Accounting plan menu.
Click on File / Add to create a new account.
Enter the account Number and Name, e.g. 1201 for Plannit customer account **
Click on Save and close mark to confirm account creation.
** An associated customer account
This account in your chart of accounts is associated directly with the accounts receivable subsidiary.
As you know, integration with Sage 50 makes it possible to centralize all invoicing and payment transactions made in Plannit in a single journal entry, and transfer them to Sage.
In Sage, however, it is impossible to make a journal entry in an associated account.
Step 2: Configuring Sage 50 in Plannit
Open Plannit and go to the Accounting section of your settings.
Select Sage 50 accounting system
So that each item in your invoices and payments can be entered in the correct accounts in your accounting system, please complete the next two steps:
Define the default values to be used for items in your Products & Services catalog. This is generally useful if you haven't set up, or have forgotten to set up, values for each item in your catalog:
Identify the two General Ledger account numbers from your accounting system that will be affected by the creation of an invoice.
🔹 Debit being your account receivable from your Plannit customers
(ex.: #1201 - Plannit customer account)
🔹 Credit being your default income account
(ex.: #3001 - Other income)
Identify the two General Ledger account numbers from your accounting system that will be assigned when a bill is paid.
🔹Debit being your bank account
(ex.: #1001 - Caisse Desjardins)🔹Credit being your account receivable
(ex.: #1201 - Plannit Accounts Receivable)
Click on Save
OPTIONAL: Activate Generate transactions only when invoices are paid.
Step 3: Configure your taxes for Sage 50
In your Plannit settings, click on the Invoices tab.
For each tax, identify the two General Ledger account numbers from your accounting system that will be affected by the creation of an invoice:
🔹 Debit being your account receivable from your Plannit customers
(ex.: #1201 - Account receivable Plannit)
🔹 Credit your sales tax payable account.
(ex.: #2310 - GST collected payable)(ex.: #2340 - QST collected payable)
Example for GST:
Exemple for QST :
If you use the tax report in Sage 50 to make your Tax report, you must also identify the tax code equivalent to GST collected and QST collected in Sage 50 and enter it in your Plannit settings (if you don't use it, skip this step).
👉 Where can I find these codes?
In Sage 50, Configuration/Settings/Enterprise/Taxes/Tax code
Identify code for GST payable (e.g. G)
Identify the code for QST payable (e.g. Q)
Click Save to save the change.
Step 4: Register your corresponding accounts for product and service sales
In the List of Products and services section of your Plannit settings.
Identify the two General Ledger account numbers from your accounting system that will be affected by the creation of an invoice.
🔹 Debit being your account receivable from your Plannit customers
(ex.: #1201 - Plannit Customer Account)🔹 Credit being your default income account
(ex.: #3001 - Other income)* In the event that an invoice item is not assigned to an income account number in the Products and Services section of your settings, the default values from your accounting settings will apply.
For each item in your catalog, you must enter the Debit and Credit numbers in the Sage 50 section.
Click on Save once the numbers have been entered.
Important note
It's important to remember to do this every time you add a new product to the catalog to ensure that the transactions are transferred correctly. First, the item must be added in Sage 50, then added in Plannit with the corresponding GL account numbers.
Important
Deleting an item from your products and services catalog may result in error messages if transactions related to these items take place after deletion. We suggest that you make a note to stop using the product, rather than deleting it.