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Search found 12 matches

by chopin_fanatic
22 May 2017, 11:05
Forum: Bookkeeping and Management Accounting
Topic: Exchange rate variance
Replies: 2
Views: 25663

Re: Exchange rate variance

Ok that makes sense.

Thank you.
by chopin_fanatic
22 May 2017, 08:37
Forum: Bookkeeping and Management Accounting
Topic: Exchange rate variance
Replies: 2
Views: 25663

Exchange rate variance

Due to exchange rate variance, a customer payment is more than the invoice amount. Is the correct process to receive the full payment, leaving remainder as payment on account and then raise an invoice to 7906? This is using Sage 50 v23.
by chopin_fanatic
24 Apr 2017, 08:47
Forum: Bookkeeping and Management Accounting
Topic: Setting up paypal as bank account
Replies: 4
Views: 41306

Re: Setting up paypal as bank account

I've set it up within the 1200-1209 range which places it under current assets and current liabilities on the balance sheet, along with the main bank account. Is this the correct place?
by chopin_fanatic
20 Apr 2017, 10:17
Forum: Bookkeeping and Management Accounting
Topic: Setting up paypal as bank account
Replies: 4
Views: 41306

Setting up paypal as bank account

I'm setting up paypal as a separate bank account on Sage. Sage says that the bank code is outside the range of the chart of accounts. How do I set this up to appear in the correct place on the balance sheet?
by chopin_fanatic
23 Feb 2017, 08:34
Forum: Bookkeeping and Management Accounting
Topic: VAT unreconciled transactions
Replies: 3
Views: 12231

Re: VAT unreconciled transactions

Hi Bruce,

Thanks for your response, those are good ideas. I will run the returns out of interest, but I agree about getting a professional to sort it out. I will forward it on to our accountant.
by chopin_fanatic
22 Feb 2017, 11:10
Forum: Bookkeeping and Management Accounting
Topic: VAT unreconciled transactions
Replies: 3
Views: 12231

Re: VAT unreconciled transactions

Regarding date that Sage files were imported, one confusing part is that opening balance transactions all date to Jan 2009!! Super confusing why VAT returns only start at 07/2015..
by chopin_fanatic
22 Feb 2017, 09:17
Forum: Bookkeeping and Management Accounting
Topic: VAT unreconciled transactions
Replies: 3
Views: 12231

VAT unreconciled transactions

When I took over the job, there were some 3000 VAT unreconciled transactions on Sage. I have limited experience dealing with this and need some help how to deal with these. Program in use is Sage 50 essentials v23. Files were imported at some stage to this version of Sage from a previous version. Th...
by chopin_fanatic
13 Feb 2017, 11:08
Forum: Bookkeeping and Management Accounting
Topic: Supplier multiple transactions wrong N/C
Replies: 1
Views: 6863

Supplier multiple transactions wrong N/C

The previous bookkeeper entered all cleaning charges for the office under N/C 5000. I would like to correct these transactions dating back to early 2016. Can this be done via a journal entry or does each transaction need to be amended?
by chopin_fanatic
02 Feb 2017, 08:45
Forum: Bookkeeping and Management Accounting
Topic: Which nominal code?
Replies: 2
Views: 9948

Re: Which nominal code?

Thanks Bruce, that's very helpful.
by chopin_fanatic
31 Jan 2017, 11:22
Forum: Bookkeeping and Management Accounting
Topic: Recurring Rent Charge
Replies: 4
Views: 8082

Re: Recurring Rent Charge

You are correct, there is no recurring PI facility. 2/ If the money is paid by DD or SO Don't do the transaction on the Purchase ledger, do it as a recurring Bank Payment to the rent nominal account with an amount and a VAT rate. I've been entering rent as purchase invoice and supplier payments eac...
by chopin_fanatic
31 Jan 2017, 11:19
Forum: Bookkeeping and Management Accounting
Topic: Which nominal code?
Replies: 2
Views: 9948

Which nominal code?

Hi there,

Can anyone tell me the correct nominal code to use for pension service charges? These are monthly direct debits made as bank payments. Is it best to set up under it's own nominal code, or use one of Sage's?

Thanks in advance.