Before anything else, what is your VAT basis? If you're on a cash basis, what you've done so far might mean the VAT isn't reclaimed - so it's a good idea to clarify that first, so that it can be fixed if necessary.
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Vince M Hudd - Soft Rock Software
(I only came here looking for fellow apiarists...)
The credit note you've posted shouldn't be to 0050 - it should be to a suitable code to show the HP balance in the creditors, usually in the mid-2000s. So you can either journal the £7995 (debit 0050, credit the HP code) or edit the transaction so that it uses the HP code rather than 0050.
For your monthly payments, divide the £7995 (capital) by the number of payments, and the £2029.04 (interest) by the number of payments.
Set up two recurring payments, one for the monthly capital amount, which goes to the HP account and reduces the balance on a monthly basis, and the other for the monthly interest amount, which goes to a P&L code for HP interest. When you reconcile the bank each month, you'll see one payment that you reconcile against those two in Sage.
For the acceptance fee, post that as another payment to the P&L, and when you reconcile the bank, it'll be a third transaction in Sage to reconcile against a single transaction on the bank (it'll be taken with the first payment).
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Vince M Hudd - Soft Rock Software
(I only came here looking for fellow apiarists...)
