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Post Info TOPIC: Sage nominal code help
Eilef


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Sage nominal code help
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hi folks,

i need to enter a new account from a trail balance I have been given. 

How do I enter sales and purchase returns?

Is it just a case of putting the entry in as a credit/Debt in the sales account/purchase account?

 

thanks

 



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Kind Regards

 

Eilef Loken MIAB

 
Onion4Sage


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Hi Eilef,

You could either do as you suggest or create two new accounts (say, 4020 Sales Returns, 5020 Purchase Returns) and post to them.


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Ian

Ian Brown FCA
Onion Reporting Software Ltd

www.onionrs.co.uk

Sage accounts in Excel. No set-up necessary. Free 30 day trial.
Eilef


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Hi Ian,

Thanks for that.

If I created the accounts am i right in thinking I would need to edit the chart of accounts for the purpose of the P&L Account and Balance Sheet.



__________________

Kind Regards

 

Eilef Loken MIAB

 
Onion4Sage


Senior Member

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Posts: 259
Date:
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Hi Eilef,

No. The standard chart of accounts defines Product Sales as 4000 to 4099 and Purchases as 5000 to 5099 so the two new accounts would automatically be picked up in those ranges with no extra editing required.

Regards,

__________________

Ian

Ian Brown FCA
Onion Reporting Software Ltd

www.onionrs.co.uk

Sage accounts in Excel. No set-up necessary. Free 30 day trial.
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