Hi Anita
Enter this as a Bank payment, but key it to drawings. It isnt a business expense. (Im referring back to your response on the 'Office Licence Accounts' thread (just in case anyone is wondering!!)
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
I've just been looking into this for Anita. Nominal code 3001? Anita is using Sage Instant 2012 so is this already set up or will she need to create the nominal code?
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John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
Hi John
I have it at 3201, but I have Sage Prof. It will be in the 30xx area, should be styled drawings so if you click on your nominal and key 'D' it will take you to a list with all nominals beginning with D, so make it easier to locate beforehand if your wish. It should be set up, assuming they have the Chart of Account loaded for a sole trader. Can be added if necessary ( let me know if you dont know how to do it Anita)
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
Thanks Joanne, I did a bit of Googling for the nominal code and there was more than one choice. Good tip about pressing D. My sage client is now using VT so sage will become but a distant memory soon lol.
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John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
Hi John
There are sometimes a few choices, although there really often isnt that much in it. Usually the differences between sage versions is down to age and if basic sage such as online/instant or the professional/sage 50 or 200 versions.
You can also press a number if you know roughly where the nominal is eg 7 will take you to the expenses section. Or just put the nominal names in order and scroll down.
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
Thank you for your prompt reply back to my question.
I will enter it, the way you have explained it to me.
I am sure, I selected Sole Trader, when setting up sage but, how can I double check this was selected, if not how do I add this on?
Many thanks,
Anita
Hi Anita
To check - go to Settings ---> Configuration and click on the general tab. two thirds of the way it will show description and hopefully in this box it will show 'sole trader'.
If it doesnt then you cannot change it until year end as far as Im aware, at which point its more of a new set up than a change, with all the requirements of entering from a TB, although I stand to be corrected on that one having never had to do it. So fingers crossed its correct!
__________________
Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position