I used to have a gaming machine float balance on sage - like a cash account, if you will. Gaming collection agents usually come every 2 weeks, and leave a till roll like receipt, to balance to.
:)
-- Edited by FoxAccountancyServices on Thursday 29th of August 2013 07:28:48 PM
PS - with the gaming, there is usually an income and expense... machine takings, then machine rentals.. so you use the receipt that the agent leaves, to post to sage (i used to do a summary on a spreadsheet and post for the quarter)
Bear in mind that VAT can differ on the different elements of the gaming receipts. You assume 20% is included within the income, and then you use the receipt to determine the machine rent VAT
-- Edited by FoxAccountancyServices on Thursday 29th of August 2013 07:33:57 PM
Please can someone point me in the right direction, where would I code live music too in the pub industry I am using sage I was thinking in the 7xxx (change the UK entertainment code maybe?)
Also £40 has been taken out of the till to re-fill the gaming machine how would I treat this?
Once again your an angel, I was thinking of the original posting because I was going to change the whole thing to account for food that gets done for the darts matches as we don't sell food just do it for tournaments, any idea on what I do with the money that has been taken from the till to top up the gaming machines (sorry for pushing my luck!)
Sorry didn't see the bit underneath, ok so like where I put the cash from the X reads you mean open another and call it Gaming float? its would be currently 0 and I would show the money going in there every time they top up?
So roughly... some machines.. the receipt shows £100 income, then your commission as a deduction - i think you get that in cash when they visit. Then there will be their rental charges. Then it should say an amount which they take away and sometimes, there is a "left on site" value - which can be whats in the machine... its all about using that agent receipt to work it out.
If you get the print out from the machine, which the gaming agent will leave, it will detail everything. You just have to recreate it and balance to it, and this should help you understand how its put together. At worst, you can contact the gaming agent and ask them to help.
Each gaming print out can be different, which is why I used spreadsheets for each different machine. One row per print out, analysing across, with formulas that should lead you to the same figures on the print out.
Once you have done them a couple of times, it will fall into place.
So you are still watching the forums all of the time Bill.
Whey hey, the return of the Amigo's.
Wlcome home Rob...
best revert my Avatar to Mutley...
__________________
Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
I had to do VAT returns, outsourced from an accountants, for a pub, so had to create a spreadsheet to show the output and input VAT. Was such a faff but once we figured it all out the spreadsheet made the forms so much easier to understand.
)
