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

How to account for payment

Sage 50 general help forum - Free help and support for all general issues
Post Reply
Jane Clee
User
User
Posts: 7
Joined: 18 Nov 2016, 14:04
Sage Version: v2015 21 UK/Europe/Africa

How to account for payment

Post by Jane Clee » 18 Nov 2016, 16:32

I have a supplier invoice showing as outstanding for the previous financial year. Upon investigation we have discovered the invice was paid for in the previous year by credit card.

How would i account for this.
Top
User avatar
brucedenney
Site Admin
Site Admin
Posts: 4664
Joined: 28 Feb 2006, 09:56
Sage Version: v30 UK/Europe/Africa

Re: How to account for payment

Post by brucedenney » 18 Nov 2016, 16:45

If it was paid in the prior year how did the payment get bank reconciled?

I guess you could stick a T9 credit note to suspense and let the accontant sort it at year end.
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.
Top
Jane Clee
User
User
Posts: 7
Joined: 18 Nov 2016, 14:04
Sage Version: v2015 21 UK/Europe/Africa

Re: How to account for payment

Post by Jane Clee » 18 Nov 2016, 16:56

Our previous bookkeeper has not broken down the payments on the credit card bank statement. The credit card bill has been posted to the misc account every month. Is a credit note the best option.
Top
User avatar
brucedenney
Site Admin
Site Admin
Posts: 4664
Joined: 28 Feb 2006, 09:56
Sage Version: v30 UK/Europe/Africa

Re: How to account for payment

Post by brucedenney » 18 Nov 2016, 17:15

Yes
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.
Top
Jane Clee
User
User
Posts: 7
Joined: 18 Nov 2016, 14:04
Sage Version: v2015 21 UK/Europe/Africa

Re: How to account for payment

Post by Jane Clee » 18 Nov 2016, 17:17

Thank you
Top
Jane Clee
User
User
Posts: 7
Joined: 18 Nov 2016, 14:04
Sage Version: v2015 21 UK/Europe/Africa

Re: How to account for payment

Post by Jane Clee » 18 Nov 2016, 17:27

Just out of curosity what would the accountant do at year end. I am just wondering if it is something we can do rather than giving the accountant additional work and our bill being higher.
Top
User avatar
brucedenney
Site Admin
Site Admin
Posts: 4664
Joined: 28 Feb 2006, 09:56
Sage Version: v30 UK/Europe/Africa

Re: How to account for payment

Post by brucedenney » 21 Nov 2016, 09:59

Write it off!
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.
Top
Post Reply

Return to “Sage 50 UK version General Help”

Who is online

Users browsing this forum: Google [Bot] and 1 guest