I have three instances where my customer has made payments for individual invoices and a payment on account to a supplier but not from his business account.
He also pays for a lot of private purchases with his business bank account which i predominantly put to drawings (3001).
With this in mind, I have journaled the indivdual amounts from the drawings (3001) code and paid the individual invoices by debiting the relevant N/C to which they relate.
What I am uncertain of is how to action the payment on account with that supplier to enable me to clear down those repective invoices for that same supplier. I am using Sage Accounts programme.
This my first customer and I want it to be correct.
"What I am uncertain of is how to action the payment on account with that supplier to enable me to clear down those repective invoices for that same supplier. I am using Sage Accounts programme"
if i remember correctly, if the invoices and the POA are on the suppliers account, you should be able to go into the banking module as you would when clearing down normal invoices and select all invoices and the POA which should equal zero- probably use the same date as the POA to keep it clean. Does that make sense??
Thanks for your reply, the POA has appeared on the supplier statement and what I am unsure of is how to enter the transaction. eg normally, enter chq ref from business chq onto supplier payment page. check the Inv's and save. I'm ok with that but I can't work out how to enter this payment from an externl source?
you will probably have to introduce more capital (ie from the owner) into th business, instead of puting it into the bank, post it to the cash account (petty cash or something), then do the normal payment routine... sounds about right to me, not sure what other people think, but to me its additional capital as the money used wasnt in the business!!
