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Contra Entry

Bookkeeping and Management Accounting help does not have to be specific to the use of Sage 50
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coolchill32

Contra Entry

Post by coolchill32 » 26 Oct 2007, 09:41

Hi Please can somebody advise on the following, I am using VAT Cash Accounting but need to make a contra entry where I have a customer who is also a supplier. When I try to go through the contra entry process I get a warning message that says something like:

"Not reccommended as using VAT Cash Accounting means that the contra entry uses a different tax code and the contra entry would exclude the transaction from the VAT retrun"

What is the best way to proceed?

Many Thanks in advance. :?
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brucedenney
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Posts: 4664
Joined: 28 Feb 2006, 09:56
Sage Version: v30 UK/Europe/Africa

Post by brucedenney » 31 Oct 2007, 12:31

I use the petty cash acocunt, pay them in "cash" and then receive "cash" from them.

Works a charm.
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.
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