I have to put all payment to the system from bank statement. I am using sage line 50. I am confusing abour nominal codes. I need a nominal code for sundries and incidentals. both of them are payment. Another thing is I got one internet banking transfer payment to other account for Tax Retainer. my accountant make a note on the bank statement and she said "show the date paid and post this to a seperate account "hmrc revenue&customs"" and i am realy confusing with this note. What can i do?
There is a miscellaneous code (for "direct expenses") 6900 (on most standard Sage chart of accounts). Or you can set up a sundry code in the 8200+ range (which will go into "overheads")
You don't say whether the payment to HMRC is for corporation tax, VAT or PAYE/NI - there are codes for all of those in the 2200/2300 range.
(Also, if you are unsure, as you have an accountant, I would ask her to explain more clearly what she meant for you to do. It's in her interests too, that you get this right)
thanks for quick reply. yes you right but she just went to holiday. there is a no any clue about the hmrc payment. Just i can see on the bank statement as a ref. so i haven't got any idea how can i solve this problem.
-- Edited by nicely on Wednesday 24th of August 2011 12:21:25 AM
