I am hoping I can get a response to these questions. I am not a qualified in book keeping in anyway but it is part of my job spec, with the vat return looming, I am starting to panic a bit as it will be the first time I will be doing it solo, our lovely most helpful book keeper has retired so I am left to it .
My first questions is a simple one I know but it always confuses me:
EDF electricity bills. We are on a fixed contract so pay a monthly direct debit which I enter as payment on account with the appropriate t code. The latest bill I have received shows the account in credit. How do I enter this to show it on the sage? Bills are few and far between from EDF but since this bill, we have sent in an accurate reading and my boss has requested that we get the credit back (which is a different amount to the credit bill due to the accurate readings), so in the next bank statement there will be money coming in from EDF but I have no paperwork for this. How do I show this?
I hope you understand my query sorry for not have book keeper speak, I only can explain in lay mans terms!
Looking forward to getting some advice so I can get this vat return happening!
When you're making payments on account it will building up month on month. When the actual bill is received you put in against the payments on account you have been making (The DDs) and the remainder is your credit.
-- Edited by matt123 on Thursday 3rd of July 2014 01:59:00 PM
so I am left to it 
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