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

Happy New Year to all!

While doing the year end our accountant in dealing with a loan we made last year, has put the interest due on that loan in Accruals. The loan is due to be repaid + interest in March this year.

However the company who borrowed have made a payment to us of part of the interest! (we have asked them not to make another payment)

So now of course the bank will not reconcile at the end of the month. As the bank has more £££s than sage at this stage

How can I account for this

Thanks for any help given.

You need to invoice them for the interest (you may need to create a new nominal to record interest income in)

And then record the receipt in Sage all will be well

Thank you Bruce will do.