I have had to post journals from the accountant, one of these postings for the OB is I had posted an amount to trade creditors and now have to adjust the suppliers individually (some have old purchases on and some have payment on account on and these need to be cleared down)
How I usually have done this is to raise and invoice or credit note and then match them off, but she has a note at the bottom which just states 2100 (which I know is trade creditors) 3200 (retained earnings) and 2201 (inputs) - should I be doing it differently as it is cash VAT accounting or am I ok to raise the invoice and or credit notes?
The amounts in question were payments on account that need to be wrote off because whoever did this before clearly didn't put the invoices on, I have put the invoices on at the start of the financial year and I am still getting the warning the creditors control is out
Hi Rachel
Sorry I am most likely mis-understanding you (migraine so not got brain fully in gear) as I dont know why you would write off a payment on account.
First of all - I would not key anything else into sage until you know what it is they want you to key, given the warning you have got. Secondly I would do a system restore to go back to the point before you got the warning message. Then I would phone said Accountant and ask them specifically what it is that they are trying to do and why. They should provide a list of which creditor accounts you need to make the adjustments to and also whether or not there is a VAT impact ie whether to take VAT into account, because at the moment we do not have enough information to know why they are making such adjustments and if they are correcting VAT errors or not. (I saw one the other day that had VAT adjutstments on, which when challenged proved to be not required at all. Although Ive also found over the years that often when its Sage data (possibly other software too on occasion) that some Accountants forget to mention the breakdown on the individual ledgers. Some I think do it as a test - to see if you will ask! So never be afraid to ask)
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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 believe it's to do with old accountants not putting purchase invoices on so they always just posted payment on account leaving negative balances on all of the suppliers looking at it so I thought to contra the control account if I posted invoices to pay the on account payments so it brought it back to a zero this would make the creditors control posting correct but I am still getting the warning message as I have found the negative balances add up to the creditors control figure i had been asked to post
Hope your migraine gets better soon such horrible things those I feel for you!
Ah, thank you Rachel re the headache. not quite the yet, but hopefully soon.
I don't know for sure, but I think once you have that message then you may be stuck with it. Only time I got it, I backed out of the system immediately (and panicked, lol). I would defo do a restore.
Your suggestion of dummy invoices will be better, but if they are out to the usual nominals it will inflate things for this current period, although I'm assuming the accountant has taken account of this in the last year, so I would be tempted to drop them to the 3200 code. Or perhaps drop them into say 9999 with appropriate narrative on them and then journal the total out from 9999 to 3200. All as T9 I would suggest as the payments on account wouldve attracted the vat issue at time of keying (one would hope!).
Maybe place a call out To said Accountant saying this is what you are doing as a double check if still unsure.
hTh
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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
Oh and whilst I think on, would you perhaps bob your first name so that it appears under the signature bar, via edit profile---> signature section. Saves us looking up your name if we can't remember it. Thanks
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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
