H all,
one of our suppliers has advised that we are in credit with them which I believe came about at he business changeover from the previous owner. I now have no contact with the previous owner and so I want to account for the credit from the supplier. We have outstanding invoices showing in Sage which should be paid but these are offset by the credit so the supplier isn't chasing. I am wondering how to go about accounting for the credit which has come about.
Many thanks in advance
Regards
AliG
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
- - - - - - - - - - - - - - - - - - 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
In Credit with a supplier
-
brucedenney
- Site Admin
- Posts: 4664
- Joined: 28 Feb 2006, 09:56
- Sage Version: v30 UK/Europe/Africa
Re: In Credit with a supplier
You could enter a dummy credit note against the cost of purchasing the business or bad debts.
Because you are unable to account for how it came about, it is probably a good idea to work in the vat mans favour and make it a vat-able transaction thereby reducing the amount of VAT you will be reclaiming.
Because you are unable to account for how it came about, it is probably a good idea to work in the vat mans favour and make it a vat-able transaction thereby reducing the amount of VAT you will be reclaiming.
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.
Who is online
Users browsing this forum: Amazon [Bot] and 1 guest