I have found the instructions in Sage of how to post accruals over x months - for example for my utility bills which are coming in quarterly. However, I cannot find any instructions of how to deal with the actual payment to the supplier. Do i make a credit to the Accruals NC? How does Sage marry up the actual payment to the supplier with the accrual - don't want the same amount appearing twice in the accounts!
Any help in the simplest possible vocabulary would be most appreciated.
It depends which version of SAGE you are using. If the programme has automatic accruals and prepayments and you have set them up throught the accruals tab, they will post automatically when you run the month end. After the accrual period, ie three months or six months the expense will reverse itself allowing you to post the actual invoice and pay it off in the usual manner. Hope this helps.
We are using Account 50 Plus. We have the Acrruals Tab - and found that they were posting an month end - just had not picked up that the reversal process was automatic! I was trying to make it more complicated than it is!
