I have 8 suppliers accounts who are owed money. I have setup a long term liability code. How can I journal the balances to this code? I don't want to do it straight from the credit control accounts as I only want to clear the 8 specific supplier payments.
I can't seem to journal straight from the supplier account.
Any Sage Gurus got any ideas please?
-- Edited by matt123 on Friday 17th of January 2014 03:25:02 PM
-- Edited by matt123 on Friday 17th of January 2014 03:27:44 PM
You cant journal from the customer ledger to the nominal.
If they are customer balances then they are trade and you can't do anything about that.
If you want to take the balances off the customer account and move it onto a long term liability account, then you could put an invoice n the account to transfer the balance to the liabilities nominal.
-- Edited by BruceDenney on Friday 17th of January 2014 03:25:25 PM
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"Create a sales invoice and match it to the balance?"
Yes
-- Edited by BruceDenney on Friday 17th of January 2014 03:26:04 PM
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Matt, I'm not really understanding the question...are you saying there are eight customers on the aged debtors list that you want moving?
Sorry my head is all over the place today. We have 8 suppliers we owe money to. We need to move their invoices from their accounts into a long term liability account.
Well I'm not sure that you should unless it is agreed they are not trade creditors, but if that's fine I would perhaps create a dummy credit note and post to the individual suppliers, thus clearing them off the ledgers and then post journals crediting 'other creditors' and debiting whatever the supply was for? A bit like buying a vehicle on HP...
Hello - Yes- Rob is quite correct - you cannot journal from the Supplier Accounts and if you try to alter the Control Account without going through the Suppliers individual accounts - you will have Warnings on your Check Data as the Control Account will not Balance to the Suppliers Ledger. So - the only way is to create Dummy Credit Notes - be careful of the VAT implications/Tax Code used - and that will sort the issue out.
