Entering late invoices in Sage

Entering late invoices in Sage

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Computer programmes allow us to enter information in past periods.

If invoices come in late, say at the end of a month, but they are dated for the previous month and if the Management Accounts for the previous month have already been finalised, is it ok to change the date of the invoices to the start of the new month? This sounds to me like changing the date of a murder in a court situation.  However, the amount of work to include the invoices in a month that has already been closed off is prohibitive. What do you think?

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By ChrisDL
12th Feb 2010 14:36

A case of who cares ....

When I am showing people to use Sage this comes up quite a lot and I always ask people to look at it in terms of whether any user of the accounts would care if they knew that the late invoice was omitted and for most clients this has helped their thinking on it.

The volume of invoices is also relevant - one or two might be fine, a dozen and you might be cutting off a bit early.

I can appreciate that it goes against the grain to give an invoice a different date, but there is apparently this concept of work / life balance .... 

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By stevie
12th Feb 2010 14:52

Purchase Invoice Reserve

You should have a system to identify those late invoices and reserve for them. Then it won't matter posting with the correct date.

Crappy old Sage should introduce the concept of "periods" when posting transactions. Then you'd be able to post the invoice with last month's date but have it appear in this month's accounts!

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By Richard Willis
16th Feb 2010 13:35

If you do the accounts on a cumulative basis it doesn't matter

In one of my former posts our software house sold us an upgrade which turned out to be a downgrade.  The old system had periods, as suggested above; the new one did not, even tho the 'period' field still existed in the ledgers, just no access to it!!!

We got round this by doing our man. accounts, in excel, on a cummulative basis, pulling ytd figures and deducting the previous period's figures to get current.  This picks up any timing diffs. suffered along the way.

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