I'm trying to set up a new bank record for a second credit card (using Sage Instant Accounts). I understand that I should use numbers between 1240 and 1250 - but everytime I try to select a number it tells me that "the bank code is outside the range of the chart of accounts, therefore its balance will not be reflected in your balance sheet reports." How can I enter an account in the right range???
Hi Ellenora
Welcome to the forum. We always ask newbies to do a little intro about themselves, bookkeeper or Accountant, where based, which prof body you are with, level of study or QE, how long you've been in this crazy business, that sort of thing. Just a few lines, helps everyone to get to know you a little and also to help pitch (future) answers.
For this one - what code have you tried?
__________________
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 suppose I'm classed as a book keeper now (but part time - my full time job is something completely different) - I go once a month to a farm contractors in Hertfordshire (with them for 15 years)- we had a spreadsheet system but more recently moved to Sage Instant accounts - and its completely confused me. I am not part of a prof body and I have no qualifications. (Basic book keeping work from a farm secretarial course 20 years ago).
I have one credit card on 1240 so have tried every number through to 1249 and it comes up with the same message. I had considered putting both cards onto the one account but am worried this will be confusing at reconciliation
Hi Ellenora
You have two options, so entirely up to you. Before you try either and indeed anything new on sage, I always recommend a couple of things - always do double back ups (in case one fails), test the backups work. Then make your amendment, because then if you do it wrong you can rewind it by restoring an earlier back up and starting again.
Also - you should find that you have access to practice data in sage - always worth a play around on that.
Anyway - to your issue:-
Either
Set up the second credit card as nominal code 12401. I would add the last four digits of the card number to the account name so you can see which one you are working on.
Or
Amend the chart of accounts. The credit card range is restricted to 1240 - 1240 usually (ie one account and thats your lot. So you need to expand this.
Go to nominals, then Chart of Accounts (COA) an icon across the top usually. Click on the default chart to open this up, then Balance Sheet, then Current Liabilities. Then in the bottom half of that screen you can see the Credit cards from 1240-1240. Expand to read 1240 to 1245. if any of the nominals 1241 to 1245 have already been allocated elsewhere you will get an error message, in which case just restrict it to say 1241. But I will bet they havent. This will then give you more options in case further cards are opened.
Then set up the second account.
HTH but if that doesnt work give me a shout.
__________________
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
