How to prepare and Finalize Vat company accounts | AccountingWEB

How to prepare and Finalize Vat company accounts


My question is when you do the following journals in Sage accounts for Sales when doing a vat return , how do you post cash towards the sales ledger

Example whilst doing a vat return, we produce these in excel and post these journals in sage accounts 

CR Sales      50000

CR Vat         10000



When you come to the bank account postings do you post the following journal when a customer pays an item?

Dr Bank 3000

Cr Gross Sales 3000

How are you suppose to distinguish the customer such as who the 3000 was paid from ? or does it matter


I am not sure this is correct as I am new in practice can someone please explain? As I am use to seeing Trade receivables not Gross Sales 


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customer accounts in sage

leedsfmaat |

Thank you for the answer, so

Zam23 |

Why cash customer?

petersaxton |
petersaxton's picture

I'm posting three month of

Zam23 |

My view

petersaxton |
petersaxton's picture

Do you need SAGE?

Sandnickel |


Zam23 |

Don't duplicate the work

Trevski |

Seen it before

Sandnickel |