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Importing transactions to sales ledger Sage 50

Importing transactions to sales ledger Sage 50

Hi,

If anyone could help me i would be very greatful.  I am an AAT diploma bookkeeper, taken over the accounts function in a company. I have good general knowledge of sage, but am no expert in the technical side.

I am trying to implement a system to import transactions from our main business systems, directly to the Customer Accounts and update the relevant nominal ledgers.  I have read the audit trail import sheets, and think I understand the process. 

However I have a few questions concerning the way our business works.

We are a Debt recovery agency, and collect payments on our client’s behalf, taking a fee for doing so. We do not operate any client bank accounts.

Payments are taken predominantly by credit and debit cards, but also cheques and bacs.  All are processed through our bespoke systems credit control systems. We will use the transactional data from these systems to update the sage ledgers. 

Each transaction taken breaks down in to 3 parts:

Our fees,

Our client’s fee

Card processing charges.

Client fees a remitted to them monthly.

Currently, payments are posted manually to the customer account once they have cleared the bank, reconciled against a day book run in excel, client remittances are prepared from this daybook, and payments made the first week in the new month.  At the same time as the payment for our clients fees, we raise an invoice for our fees and a dummy invoice for card charges. 

The idea behind this is to streamline the bank reconciliation function, as we are a high volume low value company (5000+ transaction per month), the bank rec is an ongoing daily chore, removing the posting of these transaction will free up 90% of my assistants time for other duties.

The parts I am struggling with are:

Can transactions be posted as receipts to the account (SA) if they will haven't cleared the bank account at the time of export? (Card transactions they will take around 3 days to clear).  I cannot assume the date of clearing, as it varies on the day of the week, holidays, etc. Waiting until the payments clear will require amending of the data, which i am keen to avoid. My assumption is yes, but with the possibility of leaving unreconciled items, if there are any errors in the data coming in.  

In addition to posting these sales receipts, i would like to also automate the posting of transactions to update the Card processing charges expense account and raise the invoice for our fees.

Any help you can give me in this area will be much appreciated.

Thanks Dan.

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09th Jan 2013 02:24

Importing transactions

You can certainly import SA transactions but they cannot be automatically allocated to invoices and will, therefore, require a manual allocation to be done after they have been imported.

Card Processing charges could be imported as Bank Payment (BP) transactions.

The invoices for your fees can also be imported as PI transactions although one thing to bear in mind is that if an invoice has multiple lines then each line will show as a separate invoice in Sage rather than being grouped together as they would be if entered manually in Sage...

All can be imported from a single file.

John

 

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09th Jan 2013 09:35

Thanks John,

 

Just for clarification,

Card Processing Charges are the charges paid by our debtors, these will offset in a control account against the Purchase Invoices we recieve for processing charges, so are not strictly bank charges.  Any profit / Loss is transferred to the P&L for corp tax reasons.

I need sage to be able to run a "remittance" based on the transactions based on these SA transactions less our fees less card processing charges. so it was my thinking that:

For each payment taken:

The full amount of the payment be passed through as a SA Transaction Type, then another line with the same references be passed through for our fees as an SI transaction with relevant vat element, and a further transaction with the same references for the card charge probably an SI transaction (as a dummy invoice to the control account) with T9 vat code as i don't think you can use JD in the customer accounts. please correct me if i am wrong.  The payment to our client at the end of the month would then draw down the customer account.

Does this seem correct? I ran it by my accountant, who is not the easiest person to deal with, but unfortunately i am stuck with her.  She seemed to have reservations, but it was over the phone, and im not sure she fully understood me.

Would really welcome peoples clarification.

 

Thanks,

 

Dan.

 

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