We're pleased to announce these new features and updates.
Effortlessly delete reconciled bank transactions
Continuing with our improvements to correcting transactions, you can now delete reconciled bank transactions.
Simply delete the bank transaction in the usual way. We will
Display a message to tell you that the transaction is reconciled.
Show you that the transaction is deleted when you view the completed bank reconciliation
Update the starting balance of your next bank reconciliation to reflect the deleted transaction.
Tidy up and gain control of your contacts
Do you have customers and vendors you no longer do business with?
Over time, unused contacts can clutter up your contact list. It can also be difficult to prevent people in your business from creating new transactions for them.
You can now make unused contacts Inactive. Once inactive, we remove them from all selection lists. This ensures that no one can create new transactions for any inactive contacts.
You can also view contacts by status on the Contacts, Customers, and Vendors pages. Select Filter at the top of the list, and then Active, Inactive, or All to change the view.
Find out more about inactive contacts.
Easily correct cleared transactions
We've made correcting cleared transactions quicker and easier.
Now no need to remove the remove the cleared status first. Simply edit or delete a cleared transaction in the usual way.
Find out more about cleared transactions.
New due date options for recurring invoices
You’ve told us that you want more flexibility when setting invoice due dates. You can now set the due date to [n] days after invoice date, End of next monthly (net monthly), or Immediately on recurring invoices. These options are also available in Record and transaction settings for sales and purchase invoices.
Find out more about Recurring invoices.
Save time when creating transactions
We’ve improved the look and functionality of the Quick Create button. Use this button as a short cut to quickly access the page you need to create the relevant transaction. This saves you time when you're in a hurry and is great for colleagues who are new to Accounting.
New invoice due date options
You’ve told us that you want more options when setting invoice due dates. For sales invoices (including recurring), set the due date to [n] days after invoice date, End of next monthly (net monthly), or Immediately. You can also select one of these options when setting the payment terms on expense invoices.
Find out more about these options in Record and transaction settings.
Showing transactions with attachments
Easily check which sales and expense transactions have attachments.
The new Attachments column shows the number of attachments per transaction. This saves you time, as you no longer need to open a transaction to see if it has attachments.
You can find the new column on the Sales Invoices, Sales Credit Notes, Expense Invoices, and Expense Credit Note pages. Select the header to sort the column by number of attachments, which helps you to find transactions.
You can use Configure Columns button (located to the left of the header row) to change the order of the columns. If you don't want to see a column, you can simply remove them from the view.
Showing or hiding the Attachments column also affects your exported CSV files. If the column shows and you export to a CSV file, it will include the number of attachments per transaction. If you don't want this, remove the column from the view before exporting.
Export contact addresses to a spreadsheet
You can now export addresses for customers and vendors to a spreadsheet.
Select the customers or vendors from the Contacts list, select More, and then Address List.
Find out more about exporting contact addresses.
Add attachments to bank transfers
You can now attach supporting documents to bank transfers. With this, you can add:
- Multiple files.
- File types: PDF, GIF, JPG, JPEG, PNG.
- Files up to 2.5MB.
Automate journal entry creation
We've made it easier for you to add journals to Accounting with the new journal entries import feature. This saves you the hassle of manually creating journals. For example, you can import ledger adjustments you've got in a spreadsheet as journals. You may also need to regularly import totals from another system (such as point of sale or payroll) as journals.
When preparing your file, you decide how journals are created for your business. Create individual journals per entry or one journal for several entries, all in the same file.
Find out more about importing journal entries.
Improved bank statement import
If your bank statement fails to import, Accounting will now open an error list page. The list includes the transaction number, column, data, and reason for each error. Use this information to go right to an issue, fix it, and get your transactions imported.
Find out more about importing bank statement.
AutoEntry invoice number mapping
With the AutoEntry integration, AutoEntry automatically creates transactions from scans or images. Details from your AutoEntry documents map to like transaction details in Accounting.
By default, the Invoice # field in AutoEntry maps to the Reference field on expense invoices. This means that your invoice numbers from AutoEntry show in the Reference field when expense invoices are created.
You've told us that this is often unideal, so you can now change this mapping. Instead, map the Invoice # field to the Vendor Reference field on expense invoices.
Find out more about Changing the invoice number mapping in AutoEntry (new tab).
We’ve added to multi-currency banking to make it easier for you to do business in other countries. You can now:
Add bank accounts in currencies other than your base currency.
Select bank accounts in other currencies when creating transactions.
Toggle between currencies when reviewing bank account activity.
Revaluate bank accounts, showing gains and losses.
Transfer funds between bank accounts with different currencies.
Create journal entries for bank accounts in different currencies.
Multi-currency banking is not available for bank feeds and is available only to Sage Accounting Plus subscribers.
Find out more in our guide to multi-currency banking.
Improved Banking automation
We’ve made it easier for you to import bank transactions in the way that suits your business. Plus, save time by applying bank rules to automatically created transactions.
More flexibility importing transactions
Easily import your bank transactions in a way that suits your business. Once your statement has been uploaded you can also:
Apply bank rules to transactions to automate the process, saving you time.
Bulk delete any duplicate transactions before importing them.
Find out more about Importing a bank statement.
Automate bank rules
Bank rules will automatically categorize and set details on incoming bank transactions with the conditions you choose. You can now:
Apply bank rules to bank feeds and imported transactions.
Copy and import rules between accounts - no need to recreate them manually.
Find out more about bank rules.
You can now easily see the effect your changes have on your invoice with the Preview option. You can also preview your invoice if make changes from the Settings page.
To ensure your invoice accurately reflect your company's brand, we've simplified the upload and adjustment of logo's when customizing your invoice. We've removed the size limit of 1 MB for logo images and once uploaded, you can easily reposition the image in the preview area or zoom in or out to get it looking just right. You can also reset the image if you need to start over.
Go to Settings, and then select Logo and Templates under Document Preferences to try it out.
Customizing your invoices just got easier
You can now easily access your invoice customization settings – ensuring your invoice to reflects your brand.
Easier invoice customization
We've made it easier to access the settings you need to customize an invoice when you're creating a sales invoice.
Whether you want to change your logo and template, or change labels and headings on the invoice itself, we've added handy links allowing you to customize your invoice.
Select an option from the Customize menu at the bottom of the invoice to jump to the related settings.
Reconciling bank accounts
To make bank reconciliation easier, we've moved the Reconcile button. To access it, go to Banking and then select a bank account. It is now located to the left of the New Entry button.
Previously, you opened the Connect to Bank (or New Transactions, if you have a bank feed) menu and then selected Reconcile.
Inactive bank accounts
You can now mark unused or closed bank accounts as inactive. This allows you to view accounts by status on the Banking page. Select the Active, Inactive, or All tab at the top right-hand corner of the page to change the view. Inactive accounts are also hidden from selection lists when creating transactions. This prevents the posting of new transactions to the inactive account.
For audit purposes, inactive accounts still show in reports and completed transactions.
Search with less information
Find the contact you're looking for with less information. To make life a little bit easier, enter a contact's address (or partial address), their main or mobile phone number, or just their primary name in the Search field on contact lists to find them quickly.
We've also updated the Search field on the Audit Trail report to search by transaction number so you can quickly track down the history of an entry. This comes in handy when you quickly need to find transactions that show on your VAT returns.
Easily improve your documents
To make document customization easier, we've moved document settings to their own section on the Settings page. With this change, we've also renamed some groups to better explain the settings within.
These are the settings groups in the new section with their old and new names:
|Old name||New name|
|Logo & Document Template||Templates and Logos|
|Email Messages||Document Emails|
|Invoice Form Settings||Document Preferences|
Previously, these settings were located in the Invoice & Business Preferences section, which is renamed to Business Preferences.
Profit and Loss report
When running the Profit and Loss report, you can now choose between the Standard or Comparative versions. The Standard version shows income, expenses, and profit for the current financial year. The Comparative version compares the same information in the current financial year to the previous financial year.
To access these reports, select Reporting, Profit and Loss - Standard or Profit and Loss - Comparative from the main menu. Once a Profit and Loss report is open, select the button if you want to switch to the other version.
Previously, the Profit and Loss - Comparative report displayed when you selected the beta version link from the Standard report.
You can now show up to 100 items by default on list pages (such as Sales Invoices) throughout Accounting. Go to Settings, Navigation and Data Grids, and then select 100 in the Tables of Data section. You can override this setting as needed by selecting a number in the footer of a list page.
It's now easier to set up customer and vendor statements by going to Settings, Statement Settings. Previously, statement settings were located in Record and Transaction Settings.
An issue where the Accounts Receivable Breakdown report showed a paid customer balance as outstanding is now fixed.
Add attachments to your sales transactions
Now it's easy to attach supporting information such as sales brochures, product images, price lists etc. to your sales invoices, credit notes, quotes and estimates.
- Add multiple attachments.
- Make attachments visible to your customers or for internal use only.
- Supports the following file types: PDF, GIF, JPG, JPEG, PNG.
- File size up to 2.5MB.
For more information, see
- When editing a sales invoice, the form now shows the correct amounts for tax rates on product and service lines.
- If a recurring invoice isn't sent, the document timeline no longer shows the status as Sent.
- Active bank feeds will now download transactions after you successfully sign in for re-authentication.
- You can now record sales invoice refunds on tax reconciled payments.
Tax instalment payments
If you pay your GST/HST or QST tax in instalments, you can set default ledger accounts for the payments. When you enter a payment, Accounting will automatically populate the appropriate box on your tax return (110 on a GST/HST return, 210 on a QST return) with the payment amount. As you make more payments through the year, they are added to the total. When you review the tax return, you can adjust the total if needed. This saves you the extra work of tracking your payments elsewhere and manually entering them on your tax returns.
See Setting up taxes for more information.
We’ve made these great improvements to the Trial Balance report:
- As of option. You can now run the report “as of” a specific date to get a snapshot of what your ledger account balances were on that date. The report will show data from the start of each account up to the selected date.
- Zero balance accounts option. The new Hide accounts with zero balances option allows you to hide (or show) zero balance ledger accounts on the report.
Unused ledger accounts are never included on the Trial Balance report.
- Retained Earnings breakdown. If you select Summarize retained earnings values, a Retained Earnings line is included on the report. You can now expand the row to see a breakdown of how the summarized amount was calculated. The report splits out the system calculated Profit and Loss values and manual postings to the Retained Earnings account.
For more information, see About the Trial Balance report.
- A duplication issue that sometimes occurred when voiding cheques has been fixed.
- An issue where some reports got stuck during the calculation process has been fixed.
- An error no longer occurs when you click Banking with the language set to French.
The Trial Balance report now updates as expected after creating credit notes.
- When creating journal entries, you can now mark Include on tax return if you want to include the line amount on your tax return. See How journal entries affect the tax return for more information.
- You can now enter expense transactions and other payments for provinces that include GST & PST if you don't have a PST number. This ensures that the PST you’ve been charged is calculated on the transactions.
- The image validation process has been improved when you upload your business or association logos.
The General Index of Financial Information (GIFI) is a list of codes defined by the Government of Canada that corporations must use when preparing financial statements. This information is required when corporations file their T2 returns to the Canada Revenue Agency.
Goodbye to spreadsheets
GIFI codes are now included in the default chart of accounts in Accounting. If you are setting up a new business, the codes automatically show in the GIFI Code column on the Chart of Accounts page (go to Settings, Chart of Accounts). If you are using custom codes, click the ledger account to open the Edit Ledger Account window where you can edit the code. Alternately, you can also import a chart of accounts that includes GIFI codes.
If you have an existing business, you now have a way to enter GIFI codes. Go to Settings, Chart of Accounts and then click a ledger account to open the Edit Ledger Account window. Enter the code in the GIFI Code field and then save the account. You need to do this only once to automatically include GIFI codes in all of your future financial reports.
Reporting with GIFI codes
With GIFI codes in your chart of accounts, you can show (or hide, if your business is unincorporated) them on the Trial Balance report. Go to Reporting, Trial Balance, and then use the Show GIFI codes option to show or hide them.
From the Trial Balance report page, you can also export a GIFI file. This is helpful if you are using a third-party application for analytics or compliance. Click Export, GIFI to create an *.gfi file in your computer's downloads folder.
You can now transfer funds between two Cash bank accounts.
The report headings on the Trail Balance report are now included on all pages when you print to PDF.
- The report headings on the Aged Debtors
and Aged Creditorsreport sare now included on all pages when you print to PDF.
The top of the second page of sale invoices is no longer cut-off when printed.
- Accounting now gives you the option to create invoices for any missed recurrences after you resolve an “Action Required” recurring invoice.
- Names and references are now included on all pages of customer and vendor statement PDFs.
- If you need to reset your data, any recurring invoices you have are automatically paused.
The Trial Balance report no longer fails to print to a PDF if it includes forward balances.
- Invoices with a balance of zero no longer display as overdue.
You can now view (but not edit) completed recurring sales invoices.
Accounting now prevents you from voiding reconciled cheques.
Recurring sales invoices
Do you regularly enter the same invoices? For example, customers to whom you regularly sell the same products or services your business regularly sells. End the drudgery of manual entry, save time, and reduce errors by setting up recurring invoices.
You can set a new invoice as recurring or update an existing invoice to reoccur. Create (or edit) a sales invoice as you normally would and then mark it as recurring to choose the repetition frequency. You can then pause the recurrence as needed or copy the recurring invoice to use it as a template when creating another recurring invoice.
See About recurring sales invoices for more information.
Eliminate the need to manually input your data. AutoEntry is a cloud-based application where you capture your invoices, expenses, receipts, and statements and then upload them to Accounting.
See Set up AutoEntry to get started.
Partially recoverable ITCs/ITRs
The Receipts and Payments Day Book report
The Receipts and Payments Day Book report now indicates tax amounts that include partially recoverable ITCs/ITRs. You can use this report to help ensure that your transactions are entered correctly and to reconcile your tax returns.
All expense transactions have now been updated to allow for, or to ensure correct accounting of partially recoverable taxes. This includes:
- Vendor Bills
- Vendor Credit Notes
- Other Payments
- Expense Other Receipts
- Quick Entry Vendor Bills
- Quick Entry Vendor Credit Notes
- Import of Expense Quick Entry bills or credit notes (that include a ledger account configured for partially reclaimable tax)
Sales and expense invoices are now calculated the same when GST/QST taxes are included for contacts in Quebec.
New tax rates have been added for the sale of vaping products in British Columbia (BC):
- PST 20%
- PST & GST 25%
You can select the new rates for line items on all sales documents (invoices, credit notes, quotes, Quick Entries, estimates, and other receipts).
If your business address is in BC, you can select the new rates on all expense documents (invoices, credit notes, Quick Entries, and other payments).
Where GST is charged on vaping products, the GST % is calculated on the net value plus PST calculated. For example, with a net value of $1000, the calculation is 1000 + 20% PST = 1200 × 5% GST = $60. This method is different to other rates available, where GST is based on net value before calculation of PST.
The following sales tax and payment reports will also show the new BC tax rates:
- Canadian Revenue (CRA)
- Provincial Sales Tax (for BC)
- Sales Day Book
- Expense Day Book
- General Ledger
- Tax Returns
- If you change the province of your business address, other payments/receipts now show the updated province.
- Paid tax returns no longer display as part paid.
- A “tax rates updated” confirmation message no longer displays when you create new invoices.
- Columns in the Detailed Tax return are no longer cut-off when you export it to a PDF.