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Post Info TOPIC: Sage Line 50 - allocating bank payments to supplier invoices
hrawal


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Sage Line 50 - allocating bank payments to supplier invoices
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Hi

I am new to Sage and have the pleasurable task of maintaining my company's accounts.  I am not a trained book keeper or accountant :(

I have been using Sage Line 50 for some time and started to set up suppliers to record their invoices, etc.

When processing my bank satement I entered a payment to a supplier from the bank account (I did not process it as a payment to the supplier from the Suppliers screen) and have reconciled the bank account

The Supplier account still shows an outstanding balance of £150.00 as the payment was not allocated to this account.

Is there a way of allocating that payment to the supplier account thus reducing the suppliers balance but not affecting the bank account?

As I said earlier, I am not a trained book keeper and hence any book keeping jargon will be wasted on me.  I just need a Step 1, Step 2, Step 3 answer.

Many thanks

 



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ADAS


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Think you've got 2 choices.

1. Use the maintenance screen and amend the transaction, posting to the correct supplier account (not sure where you initially posted the debit), I think you can do this in Sage.

Or

1. post a Bank receipt to the same nominal you posted the incorrect payment.
2. post a correct payment to the supplier code.
3. contra/ allocate 1 and 2 against each other next time you do a bank rec.

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Tony

Responses are intended as outline only. Formal advice should be sort from your Institutes Technical Department or a suitably qualified Accountant.
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hrawal


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Thanks Tony

Solution2 appears to have solved the problem

Appreciate the help :)



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Anna12


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Hi,

 

Please see steps of supplier payment posting below:

Go to:

-          Modules ( on the of the screen )

-          Suppliers

-          Purchase payment ( on the left side of the suppliers screen )

-          Once the window pop up select supplier you looking for

-          Enter date the payment has been made

-          E.g. cheque  no

-          Enter amount

-          Find the relevant invoice below and press pay in full

and thats it, the payment has been posted to the supplier account and allocated to relevant invoice.

 

Hope that will help.

 

Regards,

Anna



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AnnaP
hrawal


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Hi

Additional to the above question, if I have a supplier account showing a balance and the invoice was for the previous tax year, how can I remove this balance.

Is it a simple case of writing off?

Can I use the solution provided by Tony, simply using a date from the previous tax year or will this have implications to the previous year end?

Regards and thanks.

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Stardoe


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Hi there,

Why is this balance still showing as owing? Has it been paid but the payment was incorrectly done as a bank payment as you detailed in your first post? If this is the case then you can write it off using a dummy credit note with a T9 tax code. But it must be written off in this financial year.

Having said that, the Aged Creditor balance on the Balance Sheet would have been incorrect at the end of last year, so if this is a substantial amount it may be worth mentioning to the accountant (or whoever did your year end accounts).

Pauline

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Pauline
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