Need more, need help now?
- - - - - - - - - - - - - - - - - - pay-as-you-go support - no contract - tenth of an hour billing - expert help - fast service - no call queues
Need integration?
- - - - - - - - - - - - - - - - - - with your shipping system - website - invoicing system - crm - cms - manufacturing - order import - back to back orders..
Need a report?
- - - - - - - - - - - - - - - - - - Excel reporting that pulls data from Sage - custom layouts - layouts that change adapt to your brands and/or for drop shipping.
Want web hosting?
- - - - - - - - - - - - - - - - - - Your own domain name - email - a shop - wordpress - woo commerce - ticket systems - help desks - forums - portals

Enter Hotel sales into sage

Bookkeeping and Management Accounting help does not have to be specific to the use of Sage 50
Post Reply
bethm1505
User
User
Posts: 3
Joined: 30 Sep 2012, 14:38
Sage Version: v2012 18 UK/Europe/Africa

Enter Hotel sales into sage

Post by bethm1505 » 01 Oct 2012, 08:07

In the past I have worked for Engineering companies using sage which was pretty straightforward, ie raising a sales invoice, when paid allocating it to invoice etc etc plus vat was done automatically, but now have took on an extra accounts job in a hotel where they use sage and I am totally bamboozled!!
There is a spreadsheet done every week by the owners which splits into:
Room Rental, Bar Food, Bar Drink, Lounge Food, Lounge Drink, Machine Sales, Outside Catering Food, Outside Catering Drink less wages & cash purchases.
First of all may I ask you what has VAT on it and at what percentage?
How do I enter these sales less wages/ cash purchases in sage?
They put all cash into girobank and then a cheque is raised and paid into their main RBS current account.( Costs less at post office to do this )
All cheques are paid into RBS current Account
Credit Card Receipts are paid straight into RBS account.
The bank total = Cash + Cheques + CC Receipts less wages/cash purchases etc
I have no problem on the purchase side as yet but would truly appreciate any help you can give me.

User avatar
brucedenney
Site Admin
Site Admin
Posts: 4619
Joined: 28 Feb 2006, 09:56
Sage Version: v28 UK/Europe/Africa

Re: Enter Hotel sales into sage

Post by brucedenney » 01 Oct 2012, 14:27

Everything has VAT on it at 20%, except for some cash purchases (Food would have 0% and fuel eg calor gas or logs 5%), Wages are outside the scope of VAT (T9)

Of course there are assumptions, you would need to check each receipt, your log supplier might be small and not registered for VAT and so not charge VAT.
You must keep all the receipts anyway.

VAT legislation is tricky, you need to check with HMCR to be sure, not go on what someone says in a forum, I am no expert in VAT. Example:- Stamps are not Vatable, however if charging a customer for P&P it is vatable, however it if is a disbursement it is not! If in doubt err in favour of the VAT man and check it out.

The sheet should also be split into cash receipts and card receipts.

How to enter on Sage:-

There are many ways to do this. It might be worth looking to see what has been done in the past. You need to be sure you understand what is being done and that you are comfortable and in control. Whatever you do, try it out in the demo company first.

I would have a "Cash account" (a bank account).
I would make a bank payment to represent the wages T9 and the cash purchases several lines T1 T0 T2.
(you need to do a wages journal as well)
I would make a bank receipt to represent the cash income from the different areas.
This would leave a balance in the "Cash account" of the amount of cash you hold.

You should have a bank account for the giro bank account
Transfer from the Cash account to the Giro the amount that you bank
Then another transfer from the Giro to the main account for the amount of the cheque.

I would have a bank account for the "credit card machine"
I would make a bank receipts to represent the credit card income from the different areas.

Then you need to make transfers from the credit card account to the main bank account to represent each individual daily transaction.

The end result should be a set of bank accounts each of which tangibly represents the real things

RBS
CreditCard Machine
Giro
Cash

I would print out the sheet and staple the receipts to the back of it and file it as the supporting paperwork for my entry.

P.S. Switching to the co-op would be even better as they offer "free" banking and you can pay in at the post office (Free if your turnover is not too large or if you are a member of the FSB)
For just about anything Sage :- Discount subscriptions, pay-as-you-go support, application integration, reports, layouts, linked excel spreadsheets, analysis or any other help making life with sage easier/less time consuming Contact me.

bethm1505
User
User
Posts: 3
Joined: 30 Sep 2012, 14:38
Sage Version: v2012 18 UK/Europe/Africa

Re: Enter Hotel sales into sage

Post by bethm1505 » 02 Oct 2012, 08:36

Thank you Bruce for all your help.
I have tried meeting up with the last accounts assistant without success but as she had such old system i could not transpose accounts to new sage package 2013 anyway and have had to start from scratch ie new financial year 01/05/12 with opening balances only.
Kind Regards,
Beth

Post Reply

Who is online

Users browsing this forum: No registered users and 6 guests