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Recurring Rent Charge

Bookkeeping and Management Accounting help does not have to be specific to the use of Sage 50
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Geordie613
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Recurring Rent Charge

Post by Geordie613 » 30 Nov 2016, 11:03

I have been looking around and it looks like this feature doesn't exist. One of my clients pays monthly rent for his office to a landlord. So I have the LL set up as a supplier, and I'm trying to set up a recurring monthly supplier invoice for this amount. I'd like it therefore to appear in the monthly recurring and memorised items, and then once it's been processed, easily enter the rent payment which my client pays on a Standing Order, job done!

It looks like this can't be done, but I'd be happy if anyone could prove me wrong and show me how.

Thank you.
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brucedenney
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Re: Recurring Rent Charge

Post by brucedenney » 30 Nov 2016, 12:42

You are correct, there is no recurring PI facility.

There are things you could try.

1/ Enter the next year of invoices in one go, just copy the first line twelve times and change the date to the next month as you go down the page.

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.
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Geordie613
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Re: Recurring Rent Charge

Post by Geordie613 » 30 Nov 2016, 12:46

Thank you very much.

I've thought of your point 1. Not too much hassle. And I will be doing your point 2.
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chopin_fanatic
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Re: Recurring Rent Charge

Post by chopin_fanatic » 31 Jan 2017, 11:22

brucedenney wrote: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 each month. Is it wrong to include direct debits for rent on the purchase ledger? We are invoiced each month by the landlord.

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brucedenney
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Re: Recurring Rent Charge

Post by brucedenney » 31 Jan 2017, 16:29

It is not wrong, it is perfectly acceptable way to do it. It just means you have to enter the invoice and payment each month and can not use the recurring feature to automate it.
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