How to post Sales figures in Sage50 Accounts (we use separate Sales ledger)

How to post Sales figures in Sage50 Accounts ...

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We use Sage50 Accounts for our purchase ledger, and a separate (bespoke/built in-house) sales ledger which isn't compatible to integrate w/ Sage.  

I have recently taken over from the FM who used to manually import Sales totals figures from our SL to Sage.  Unfortunately I didn't get a handover on how to do this before he left...

I have a sales report for last month showing list of invoices (thousands) with net, VAT and gross totals.  I have the same report for credit notes for the same period.

I have only ever worked on purchase ledger so this is completely new to me..

I need to tell Sage our total Sales invoices and credit notes for last month with VAT details to be included in our VAT return.

What's the best way for me to add the sales figures to Sage (considering all information is in our Sales ledger so we don't need every invoice number/detail to be re-entered into Sage) we just need Sage to know the total Sales invoices and total Credit notes.  

Would it be best to raise two invoices for the full amounts at the correct VAT rates (i.e. 1 invoice for the full month's invoices at standard 20% tax and one for the month's EC/No tax Sales at 0%) then 2 credit notes again one at 20% VAT and one at 0%?  

Or - am I best creating a manual journal.. and if so could someone please explain how as I have never created one in Sage?

Many thanks.

Replies (9)

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By johngroganjga
01st Sep 2014 20:10

Can't comment on any Sage-specific issues, but I would have thought you would just put through a bespoke journal entry. Is your question how to enter a journal entry in Sage, or what the entry should be?

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By tom123
01st Sep 2014 22:01

journal is the best way

Working with two systems is hard at the best of times so I suggest using  one journal entry to incorporate all your entries and tax values. Keep backup support that reconciles the two. Out of interest how do you post all your bank receipts in sage, and where do you do your bank RECs?  You may find it easier to have one master sales ledger account to agree to your whole sales ledger on the other system.

 

Sorry, I can think of plusses and minuses for both approaches.

 

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By RFL H
02nd Sep 2014 08:34

Journal and Control Account

You should have a Nominal / Company account at around 1100 in Sage which will agree to the b/f balance on the other Sales Ledger.

Post the Invoices as a debit to this, crediting Sales (4000) and VAT (2200).

Credits in the opposite direction.

You will also need a report of Customer receipts from the other Sales Ledger to square it up - post these as a Bank, Receipt coded to the 1100 account.

Your other Sales Ledger should then agree to the nominal code in Sage.

To do a Journal in Sage go to Company, Nominal and pick Journal from the top menu. 

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By ruthp
02nd Sep 2014 15:44

See if you can export the sales data from the SL system and then import in bulk into Sage (per month) -then you get the correct debtors per client

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By Cazzy
02nd Sep 2014 17:02

Sales
It would seem the easiest option would be to enter using the sales invoice tab on customers and enter as described with 2 invoices. That way sales go to the correct place as does the vat!

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By Roz
02nd Sep 2014 17:23

To create a journal in Sage (any version)

 Click on Company, then on Journal Entry either in the task pane or from the row of icons across the top of the screen.  The journal screen will appear and you complete it as you would any journal. 

If you have used the purchase ledger in Sage you can use the sales ledger.  They are mirror images of each other in terms of posting transactions.

I am surprised that the other sales ledger program does not link into Sage, I thought that all programs had provided for that possibility.  You mentioned EC sales.  Does your other program take care of the EC reporting?

 

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By johndon68
02nd Sep 2014 22:27

Journals

If you are going to do this via journals, you might want to try it in the Demodata first as it is vital that you get the tax codes correct on each journal otherwise they will not appear on the VAT Return. 

Also be aware that journals do not necessarily have the effect that you might expect on the VAT Return where, for example, rather than finding that the Sales VAT has increased, the Purchase VAT decreases instead.

John

 

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By Sandnickel
03rd Sep 2014 08:25

agree with cazzy

I would take the OP original suggestion and post as invoices & credit notes. You then would have a mirror of your original sales ledger (albeit condensed). Posting journals seems like a messy option to me.

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By jndavs
03rd Sep 2014 16:07

Importing

If you want to go down the invoice / credit note importing route, take a look in your Sage subfolders. You will find a folder called 'Import Templates'. This contains spreadsheets for importing various types of transaction. You will need the audit trail sheet.

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