How to correct cash sales and the amount allocated against it in sage

How to correct cash sales and the amount...

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My accountant has told me to put my sales into sage as a customer (cash sales)
So I have to add a new invoice to cashsales each month and then receive payment against it. (banking and credit card totals)
However this month the bank have found an error in the cash I put into the bank so this means my total sales for the month are incorrect and the amount allocated against this cash is incorrect too.

How do I fix this as the corrections function wont allow me to edit the amounts.

thanks

Caroline

Replies (7)

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By ShirleyM
07th Jun 2011 07:18

Ask your accountant

It will be better for you, and your accountant, if you take guidance from him/her.

We all have our different preferences as to how things are recorded/corrected, and your accountant would probably appreciate the error being pointed out to them anyway, as it may save lots of questions further down the line.

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By todbury
07th Jun 2011 08:43

How to correct cash sales and the amount allocated against it in
I dont want to ask him as we are now in dispute and I will be looking at getting a new accountant. I am in the process of asking from referrals from other businesses in my area.
I have not been happy with my accountant for a long time and a recent meeting with a chartered accountant has proven to me that I was right to be worried.

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By tracybbs
07th Jun 2011 08:45

You could raise a credit note

If you have banked less than you have recorded on Sage then you could raise a dummy credit note and refund your Cash customer.  If you have banked more than you have recorded on Sage then raise a dummy invoice and record the payment of that invoice.

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By todbury
07th Jun 2011 09:26

How to correct cash sales and the amount allocated against it in
thanks tracy - I tried raising a credit note against the total amount banked and the individual sum against it. Then I raised a new invoice for both corrected amounts and then tried to pay one off against the other so I only needed to raise a dummy credit note for the £200.

However it wont balance off in the cash sales sheets - it says amounts are unallocated.

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By tracybbs
07th Jun 2011 13:15

Little confused

I'm a little confused with your reply.  Have you banked more than you invoiced for or have you banked less than you invoiced for?

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By todbury
07th Jun 2011 13:56

How to correct cash sales and the amount allocated against it in
My accountant tells me to use customer invoices to record my sales.

For ease.....
I thought I sold £1000 worth of sales (made up of £400 credit cards and £600 cash banked) and entered £1000 into my customer invoice. (SI code)

Against this I had put £400 as a part payment, then £600 cash as the final payment. (both SC Codes)

then the bank said the cash was incorrect so I had only banked £400 credit and £400 cash.

So therefore my total invoice of £1000 is wrong and needs to read £800. (£400 & £400)
the payment of £600 is also incorrect so it should be £400.

If I try to edit the £1000 it allows me to do this but then appears as an unallocated amount in the customer invoices. I tried to credit the £1000 and credit the £600 (SA Code). Then raise correct invoices and payments, but it wont allow me to offset against each other.

Sorry not an easy query to explain.

Thanks so much for bearing with me, Caroline

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Sarah Douglas - HouseTree Business Ltd
By sarah douglas
07th Jun 2011 15:59

Sage Guidance

Hi Caroline 

The reason your accountant has set it up this way is so you can see if want went in to the bank matches your till receipts and what the credit card company pay you.   I hope it was just a mistake and you have not been left short by the bank or  a member of staff. 

I am not sure why you cannot allocated , but I would get a good bookkeeper soon.  As  a credit note should have solved the problem .

You must be running cash accounting so what you should have done was delete the Sales Receipt as when you were doing your bank rec you would have noticed this was incorrect and your bank account did not reconcile .

If you delete the sales receipt against it . You will now be able to edit the original invoice and enter the correct sales receipt amount.  You then renter the sales receipt.  I notice you mention about your accountant but you do seem to struggling with this as the reason why sage would not let you change this invoice is because you would be effecting your vat return and not doing the full correction. 

You have said you have entered a credit note so if you delete that as well you should be okay to re enter the receipt.

 

-- Kind Regards Sarah@ Douglas Accountancy & Bookkeeping Services, Glasgow

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