SageForum for UK versions of Sage 50- Help and support.

brucedenney wrote:The terms I use for these are Wet and Dry sales.

Mate thanks for all the time you spent explaining. I got your point, and widened my understanding of this stuf.

Cheers Man!

Example: You have just formed a new company which rents a small Hotel and Restaurant. Some of your sales are Meals and Bar Sales .

You buy Food from Supplier A
You buy Beer & Wine from Supplier B


Now here is the question:
What Nominal code would be most appropriate in this case. And why? for ...

Settlement discounts are calculated as being discounted and then interest charged if the prompt payment discount is not taken.

£1000 bed less 10% discount = £900
plus VAT = £157.50
Total £1057.50
Late payment interest (early payment discount £100)
Total £1157.50

I can't even say how ...

What tax code should I use for Services such as:

1)Functions and Weddings

2)Laundry

Tax codes :
T1--17.5%
T5-- 5%
T9-- 0%

!) Transaction: Paid total of 10575 by cheque of for 3 months Rent in advance from 1st of month

If the accounting period is 1 month.

The total is 10575 after VAT deduction the net is 9000
What should go to Bank>payments?


How do I record the prepayment? It seams that the prepayment is 6000 ...

Buy extra beds on credit from Alexandra who offer 10% discount for early settlement – you intend to take the discount.
Full pre discount invoice total is 1157.50.

How should I record this transaction?

I know it is customers>Invoce

I don't know what will be the Net figure, Vat figure, and how ...