Sage 50 Unallocated banking to Sales ledger

Sage 50 Unallocated banking to Sales ledger

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Using Cash Accounting, if you post a bank receipt of £11.25 to an empty sales ledger account, you get Net £9.38 and VAT £1.88 and a credit to the bank account  and sales ledger  of £11.26 leaving a hard to find bank rec. problem.

Sage tell me its the way the software rounds the VAT calculation and they cannot understand that it's a good idea for entries to the bank to be accurate.

Has anyone seen this, what is the workround, or am I missing something?

Thanks.

Replies (6)

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By petersaxton
03rd May 2011 16:10

Ridiculous

I've heard about this before. It's ridiculous that Sage would ever allow this to happen.

You are not able to edit the entries to make the total 1p less and then have another line with 1p net?

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By appacc
03rd May 2011 17:23

You are right.

But what is the point of posting a transation incorrectly (but you don't know that until you tick off the whole bank) and then go into file maintenance to correct it.

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By petersaxton
03rd May 2011 17:36

I agree

Is it too difficult for Sage to calculate net or VAT and then use the difference for the other field?

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By appacc
03rd May 2011 17:46

I don't

The isn't a VAT field when posting credits to the sales ledger. It's all behind the scenes.

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By johndon68
03rd May 2011 18:18

Rounding...

This was discussed in the Sage 50 Users Group a number of weeks ago: https://www.accountingweb.co.uk/group/sage-50-accounts-discussion-group/...

Not suggesting that it is right or wrong but, essentially, this has always happened, it has just become a lot more obvious since the change to 20% VAT - there are certain, specific, values for which it happened when VAT was 17.5%

John

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By petersaxton
03rd May 2011 19:55

What don't you agree about?

“I don't

The isn't a VAT field when posting credits to the sales ledger. It's all behind the scenes.”

What don’t you agree about?

Did I say there was a VAT field when making the posting? I specifically stated that Sage could do the calculations. If the user only enters the total then Sage can calculate one of the fields based on the VAT rate and calculate the other as a difference. I don’t think anywhere was I suggesting that the user did it.

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