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sage question

year end journal

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Posting a year end journal to sage. One of the accounts impacted is 2100 Trade creditors. There is a supplier account showing a debit balance of £150 [overpayment] which I need to write off. I know its not possible to journal directly to a control account and I seem to remember back a while back posting to ac 9998 but can someone with more recent knowledge confirm how I clear this ensuring the aged report and nominal 2100 agree at year end.

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By Anita14
14th Mar 2019 21:01

Go to the Suppliers module, choose Write Offs & Returns and choose the type of write off (probably Whole Account). This will clear the supplier account in the ledger and as it's an overpayment you're writing off, it will post a debit to 8100 in the P&L and credit 2100.

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14th Mar 2019 22:13

It’s still the same nonsense, I’m afraid. You write off from the supplier account to 9998 and then journal between 9998 and 2100.

Edit. I might be talking rubbish. I’m trying to watch the football and I’m the world’s worst multi tasker.

Edit 2. Well, now I’ve had a drink too. So long as the total of the individual supplier accounts equals the value in 2100, all you need to do is post a dummy invoice to the rogue supplier account. Of course, if it’s a ‘real’ overpayment, the balance is actually correct and a refund claimed. If it’s false, you will post a dummy invoice to the usual nominal code for that supplier.

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15th Mar 2019 08:57

When posting the whole year end journal you put the posting destined for 2100 to 9998.

Then you write off the invoice and put the payment/receipt to 9998.

The two entries to 9998 should cancel out and there's no direct posting to 2100 to leave the nominal balance out of whack with the creditor listing.

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15th Mar 2019 18:53

Just use an invoice or credit note option - reference WRITE OFF and use great descriptive/narrative in the white spaces - contra any account -aka like suppliers normal cost nominal ?
one entry only ! use the correct vat code and bos yor uncle!

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