i have a questions on the best way to keep track off retentions being held on sales invoices
we invoice a large retail company for payments, when payments are due they sometimes hold back money to stop our account from becoming in debit, there's commissions due on all sales we make to them witch is deducted from payments dues to us.
once we our issued payment, they issue a remittance slip that breaks down how much is being paid to us, what invoices are being paid and any provision that are held back.
i want to log these provisions, so that the customer account reflects theses retentions.
i log these retentions as a sales invoice under a nominal set up in debtors called provisions.
problem is that when i log the payments these provision are not being deducted from the pay slip as they are not a credit payment.
once the sales receipts are finished they are not in the actual sum being payed and are causing issues with bank reconcile.
if i log these provisions as a credit note, then they get deducted from the sales reciept and all is fine when matching these reciept with the bank statements but then the customer account balance doesn't reflect the sum owed to us for these retentions, and company balance sheet is not accurate
I don't understand what the objective is or what the scenario is.
"on sales invoices" so this relates to a customer
"we invoice ... for payments" so you are in the business of making payments for your customers to other third parties?
"commissions due on all sales we make" there is commission (payable to the customer) based on sales you make (to the customer)?
"once we our issued payment" you are paying a customer?
????
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