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Post Info TOPIC: Sage Instant - Recording company credit card interest.
Stanna


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Sage Instant - Recording company credit card interest.
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Hi

 

Just getting to grips whith sage instant but i am stuck on how to record interest charged on the company credit card.

 

Do i just put it down as a payment on the card and use nom code for bank interest?

 

Thanks

 

 



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Shamus


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I don't use Sage but would you not set up the credit card as a seperate bank account, so new nominals for CC Bank and Interest?

So yes, the same as bank interest but from a different bank account.

Sure that a Sage guru will be along imminently to correct me if I'm wrong,

kind regards,

Shaun.

p.s. sorry, I don't normally answer Sage questions (actually, I normally just ignore them after a quick Spam check) but very slim picking today on questions on the site.

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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.
Rhianrach


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I use a nominal just below bank charges to record any credit card charges, whether they be finance charges, interest or charges for accepting payments. You will/should have a credit card account in the 1200 range, just do a bank payment to credit card charges, (7902 in my case) and I think put it as T9 but you may have to verify the VAT aspect.

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Steve
Stanna


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Thanks for that.

I already have a credit card bank at 1240 with another for receipts at 1250.
I have bank charges at 7901
And one called credit charges at 7905 - would this be ok or just create a new one specifically for credit card in the 79xx area.

Thanks for help so far.

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