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Post Info TOPIC: Sage Customer Credit Note and Cash Accounting
Carrie


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Sage Customer Credit Note and Cash Accounting
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Hi All

 

Sorry if this is really basic,  but I have been up most of the night with a crying baby and my brain is mush. I have just taken on a Cash Accounting Client and they need a Credit Note raising for an Invoice issued on 23 March 2012. This falls over a Financial Year Ending (31 March) and involves VAT. Do I use the original Invoice date as the date of the Credit Note or should I use today's date or 1 April 2012?  So basic but brain totally numb :(

 

Thanks for any help

 

PS..baby not even mine :(

 



-- Edited by Carrie on Thursday 27th of September 2012 10:20:07 AM

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GJRobbins


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You should use the actual date of the credit note, ie todays date.

It wont 'effect the VAT return as no cash movement.

The Credit note will reduce the Sales outputs in the Sales Tax control

Hope that helps




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Carrie


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Hi GR

 

Thank you, yes it does, I think lack of sleep and the fact this is my first Cash Accounting Client panicked me a bit. I came to the same conclusion as I reasoned no VAT had yet been paid as the Invoice hadn't been paid, therefore I needn't worry about the VAT part, just then needed to clear up the Financial Year bit. The Accountants haven't run Sage Year End (they deal with anything above TB)  but they have produced Year End Accounts would these figures not be affected?

 

Thank you

Carrie



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Carrie


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Hi GR

 

Disregard last post, I have it sorted in my head now, right off for some sleep, at least I can give Grandchildren back!!!!! :)

 

Thanks for your help, I really appreciate it

 

Carrie



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