why isnt my bank posting payments to the nominal codes entered???? | AccountingWEB

why isnt my bank posting payments to the nominal codes entered????

I have just made a payment  thr the bank payment system using  nominal code 7350.while the payment is showing in the bank it is not registered as a credit in the nominal account? and after checking it several times to make sure the enteries are correct im stumpped!!! any ideas??

Mitch_K's picture

missing postings

Mitch_K | | Permalink

Go to 'Financials' (Nominal Ledger) You should see the transaction there, you will also see what nominal code it has been posted to. This might not solve your problem, but it should help you track down what has happened.

Hope it helps!

Mitch K

-- Shining light into the black holes of your accounts

petersaxton's picture

The other side of a bank payment is a debit not a credit

petersaxton | | Permalink

 It should be a debit in the nominal code you allocated it to. Check what nominal code the payment was allocated to.

strange double entry!!!

isherwood | | Permalink

apologies for my ignorance as i have only ever used manual accounts before,sage is a new adventure for me ha ha!!! it is a credit in the bank and a debit in the nominal code! is this correct? so am i write in thinking there is no credit entry to the nominal account?(and yes i really am this stupid)

petersaxton's picture

Double entry

petersaxton | | Permalink

 Entry is Dr Expense Cr Bank

Review what entry you have made.

John Stokdyk's picture

One other outside possibility

John Stokdyk | | Permalink

If you're a very new user and you've installed Sage 50 Accounts 2010 in the past two months there's a chance (somewhat slim) that you could have been caught by a bug that was found in the new version.

The scenario that could apply here is if you raised the phantom entry using the Recurring Payments command within the Banking module. As Sage explained to AccountingWEB members last month, when a new recurring entry is added in the affected version, it can over-write the first recurring item in a list.

Only around 300 users are believed to have installed the initial release before it was patched, but if none of the other experts in this discussion group can help sort you out, you might want to check if you're using the patched version of Sage 50 Accounts 2010. Have a look under the Help menu and choose About, where the version number should be c16.00.16.0153. If you use an earlier version of Sage, you won't be affected.
John Stokdyk, Technology editor

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