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Post Info TOPIC: Business Rates
SK123


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Business Rates
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Hi,

I've received a Business Rates invoice for the year April 2012- March 13.

This will be paid in 10 monthly instalments, but I intend to spread the charge equally over the full 12 months on my Managemant Accounts.

Any thoughts on the tidiest way to handle this in Sage Instant Accounts  would be really useful.

Many thanks,

Simon



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gillyfleur


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2 choices: enter as a purchase invoice, code the invoice to prepayments 1103 in the balance sheet and then each month journal 1/12 to rates 7102. Each payment from the bank reduces the trade creditor in the balance sheet Or Enter as 12 individual invoices, each dated for the 12 months of the year in suppliers all with the same reference in the next box to the date (just F6 to copy the box above). This will automatically add the transactions together in the suppliers account to equal the invoice but post each invoice in the relevant month. Pay it off through the supplier account from the bank as above to reduce the creditor

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SK123


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Excellent. The prepayment / monthly journal route is what I had intended, but your alternative is also an interesting option that I hadn't considered.

Many thanks.

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