How to Create & Setup Bonus Account in Sage 50

In Sage 50 (formerly known as Peachtree Accounting), a Bonus Account is a general ledger account used to record bonus payments to employees. When a company pays bonuses to employees, it can record the payment as an expense in the Bonus Account.

To create a Bonus Account in Sage 50, you would follow these steps:

Click on the "Maintain" menu in the main menu bar.
Select "Chart of Accounts" from the drop-down menu.
Click on the "New" button in the Chart of Accounts window.
Select "Expense" as the account type.
Enter a name for the account, such as "Bonus Account."
Enter a number for the account if desired.
Set the tax code for the account if applicable.
Click "Save" to create the account.

Once the Bonus Account in Sage 50 is created, you can use it to record bonus payments to employees by entering a journal entry to debit the Bonus Account and credit the cash or bank account used to pay the bonuses.

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