How to handle this transaction in Sage?
I require some advice please with posting the correct transactions for a process in Sage. Several similar transactions have been done over a number of years with the same company but a) I feel they were posted on Sage incorrectly, and b) the staff member who posted them has left the company and c) the Director doesn't get into the mechanics of the accounting system so cannot explain how to do it.
On 12 April we paid 45000 to Company A which I understand was for a Remuneration Trust. I entered this as a Bank Payment or Cr. Bank.
We also received an invoice from this Company A for the Minerva Trust fee of 10% or 4500. This I entered as a supplier invoice.
On 23 April, we received 40500 back from Company A. I think this was because we had a cashflow issue and couldn't pay other suppliers but it may be the way the trust works - I must confess I don't understand it despite asking some questions and will seek further info from the director. But either way, I entered this amount as a Bank Receipt or Dr. Bank
Now clearly the invoice of £4500 should be offset by that difference to clear the Purchase Ledger. But I am unable to relate the two together. And I think this is because I have done them as BP and BR and probably should have posted those entries on to the supplier account.
In previous years, it seems they did not get the funds back and simply did a BP for the outgoing funds, and then a Supplier Payment for the 10% Minerva Fee.
So far my bank account is reconciled but the supplier still has the open balance of £4500 which I am unable to pay because that would throw out my bank balance and reconciliation.
Can anyone help?