I'm hoping someone can help me.
I have issued an invoice to a supplier under their Customer account in Sage, then matched the contra payments against the invoices on their Supplier account.
Now i have had to issue a credit note to their Customer account which means i need to reinstate some of the invoices allocated against on their Supplier account so that our balance is correct.
HOW? I have a version of Sage that doesnt have the fancy Contra button and other fancies like that but it all has to be manually done, I think I have over thought it and now am scared to do it.
If someone (anyone!) can give me some advice i would be greatful.
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post supplier invoices to the same nominal code
how about posting supplier invoices to the same nominal code as the credit notes. use the same reference numbers if you can, and remember to just enter gross amounts with no vat, and a tax code like T9
reversing the contra
Hi Kelly,
I think the best thing to do is to reverse your original contra entries. That will put you back with the sales invoice balance on the debtor book and the purchase invoice balance on the creditors ledger. Then apply the credit note to the debtor invoice. You will be left with the creditor still owing on the purchase ledger, which is correct, as because you have credited your sales invoice you can't use that to offset your owing balance to your supplier.
I do infer from your post that maybe because of batching this may not be the quickest, but if you have got in a muddle then it will be the clearest.
Adrian