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Sage Gurus...

Sage Gurus...

Whats the easiest way to post sales in sage without raising an invoice but getting Sage to recognise the VAT?

Its a restaurant and we are tracking the sales on a spreadsheet and posting monthly.  I have posted a monthly journal

DR bank

CR sales

CR VAT

but as its T9 VAT code the VAT  isnt being picked up when I do the VAT return on sage.

Whats the best way to do this?

Thanks

Thomas

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12th Jun 2012 20:58

Forget journals

Easiest way to post bank receipts is to go to bank, select receipts and enter the whole amount in net column, T1. Then press F9 key which will treat receipt as VAT inclusive.

Unwise to enter journals in Sage unless there really is no other way.

It sounds as if you don't know Sage at all. Why not try VT? It's much easier to teach yourself on that and you can correct errors much more easily.

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By thomas
12th Jun 2012 21:35

I dont know sage at all. The client was given a free copy of sage and wants me to get him going with the accounts!

I'd much prefer VT!

I'll have a look at the bank accounts and see how that could work,

Thank you

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By JC
13th Jun 2012 08:56

No such thing a 'Free Copy of Sage' ...

Your client is probably in breach of Sage T&C's

Even if someone else purchased the software - believe they are not permitted to give it away or tansfer it to another

Check the terms

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13th Jun 2012 09:29

Journals

When doing your journals you should be able to select the tax code to post to.

 

So you should be able to do:

Dr Bank T9

Cr Sales T1

Cr Sales VAT T1

 

This will then bring them up in the 'Manage VAT' section when you run your VAT Return.

 

I would still advise doing the bank receipts (what Moonbeam said) option though as it is so much easier.

 

Ps: Moonbeam it is easy to correct errors in Sage now, i dont know what version you are running but the latest versions are a whole lot easier.

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13th Jun 2012 13:36

Not sure which version you have

But surely if you just go to Customers and hit the 'invoice' button at the top it will let you enter the amounts without raising an actual invoice.  If you set up a dummy Customer account, perhaps called 'cash sales', and post it and then the cash to this all will be well.

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mail.taxperfect.co.uk
13th Jun 2012 13:54

Twice the work

Richard Willis wrote:

But surely if you just go to Customers and hit the 'invoice' button at the top it will let you enter the amounts without raising an actual invoice.  If you set up a dummy Customer account, perhaps called 'cash sales', and post it and then the cash to this all will be well.

 

Does that not involve two transactions whereas Moonbeam's solution is only one.  Why double the work?

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SXGuy
13th Jun 2012 14:00

@Cloudcounter and Richard Willis

Cloudcounter wrote:

Richard Willis wrote:

But surely if you just go to Customers and hit the 'invoice' button at the top it will let you enter the amounts without raising an actual invoice.  If you set up a dummy Customer account, perhaps called 'cash sales', and post it and then the cash to this all will be well.

 

Does that not involve two transactions whereas Moonbeam's solution is only one.  Why double the work?

 

Yes that would be twice the work - bank receipt transaction only one thing to enter - much quicker and easier.

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By S.K
13th Jun 2012 14:12

These days Sage is being given "free" by a few high street banks depending on the service taken from them. So in essence the trader "may" still be in line with Sage's T&C's.

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By thomas
13th Jun 2012 18:51

Yes, Sage was given to the client with their Barclays bank account.  I wouldnt have recommended it. Now they have it Im slightly stuck as it would be a challenge to ask them to pay for another package, especially when it is a start up business.

I've been trying to run reports today to analyse the VAT postings but cant find anything I can dump into a CSV. Its driving me nuts!

VT is basic but it is so simple to use and extract information from.

Thomas

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13th Jun 2012 19:11

VAT & Journals

As Moonbeam said use bank transactions instead - if at all possible when there is a VAT element involved you shouldn't use journals.  As has been mentioned, you can specify a tax code on a journal and it will, subsequently affect the VAT Return but not necessarily in the way you might expect either...

One simple way to extract the data and get the VAT element is to go to the Financials window (which will list all the transactions) then go to File -> Office Integration -> Contents to Microsoft Excel

 

John

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By S.K
13th Jun 2012 19:15

Quite simple - click on company>financials> file >office integration>send data to excel

on the reporting, select your report within preview mode there is export icon and you can dump to CSV.

Not sure what version of sage you are running?

S.K

 

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13th Jun 2012 20:16

I quite agree

that the quickest and easiest way to get the takings into turnover is to use the bank journal.  However the way the OP was phrased implied that they had for some reason seperated the two elements, cash and turnover, and were asking how to get their turnover posted.

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By thomas
13th Jun 2012 21:18

Its Sage 50 2012.

 

Im trying to post:

 

DR cash in safe

DR credit card receipts control

DR chqs banked  i.e. current account

cr deposit held (b/s creditor)

CR sales food

cr sales drink

cr tips

cr VAT

 

when cash is received into current account we are using bank transfers to

cr credit card receipts control

dr current account

 

Am I making an ar*e of this?  I wanted the bank current account to be easy to reconcile and to mirror the actual transactions as they are received in the bank.

Thomas

 

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