Sage 50 payment receipts and retentions

Sage 50 payment receipts and retentions

Didn't find your answer?

Hi was wondering if you could help me

I am new to sage 50 , i have got the basics down but i have an issue with a customer who hold back money sometimes on our remittance slips

hope this makes sense

the issue is once they release a payment they issue us a remittance slip breaking down the what is being paid so under the customer receipt panel i clear the invoice all under one payment receipt to reflect an accurate receipt in the bank, the problem is sometime they hold back money and they call it provisions for receivable. its to stop our account from going into debit, we owe them money for sales commission that get deducted from payment owed to us. there sales commission are logged as a credit in sage and are show on there remittance break down so its easy to clear when doing a payment receipt. the problem occurs when there is an extra transaction that appears on the remittance slip (Provision for receivable) , and not sure how to log these provisions, i manually add in these provisions before working through the customer receipt module, if i issue a credit for these payments, then on the final payemnt receipt the deductions are made and the receipt is accurate but then customer account wont reflect this value as being owed to us, as its a credit note, so if i post these provision as a sale invoice, then the customer account reflects the extra money owed to us, but when i clear the invoices in the customer receipt module and then try to add the temporary deductions made the total receipt comes out higher then the actual amount being paid that causes issues when reconcile bank later on.

Replies (0)

Please login or register to join the discussion.

There are currently no replies, be the first to post a reply.