I am entering openning balances for customers. Some of them have credit with us ath the end of FY.So I have to roll these over to the next year. I haven't got a trial balance from accountant as yet. But assume these will be sitting as a part of deffered income in a balance sheet(or i may be wrong). How do I enter these credits on sage please to assign to each customer. So that when I issue statement the total will be reduced for the amount of credit they have.
I would post the credit notes as usual but instead of using the 4000 sales code, post them to "other debtors". Let the accountant know, so that when they gives you the trial balance figures, they will know to code that particular item to "other debtors.
You shouldnt be afraid to pick up the phone and ask the accountants by the way, thats what we are there for :)
-- Edited by FoxAccountancyServices on Friday 3rd of May 2013 11:12:51 AM
Yes. And no year end done by an outside accountant. T9 non taxable- private nurseries. Not a cash accounting. Stiil not sure what to do with credits on customers accounts.
