How to prepare and Finalize Vat company accounts

Hi,

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

DR GROSS SALES 60000

 

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 

 

Comments
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customer accounts in sage

leedsfmaat |

Thank you for the answer, so

Sharaz28 |

Why cash customer?

petersaxton |
petersaxton's picture

I'm posting three month of

Sharaz28 |

My view

petersaxton |
petersaxton's picture

Do you need SAGE?

Sandnickel |

Sage`

Sharaz28 |

Don't duplicate the work

Trevski |

Seen it before

Sandnickel |