SAGE nominal codes

hmashman

Hi

Can anyone help please? I need to find out what code to use on Sage for a Goverment Bond and intrest earned on that bond.

Thanks in advance

Helen:001_unsure:

jennifer

Hi

I would have thought that the interest earned would go to 490? - this would depend on which of the 49??'s was used for bank interest received, as I would personally record this interest separately, then I would suggest that as the government bond is an investment it would be treated as an asset, therefore 0060 or similar.
You would probaly have to set this up as a new nominal account along with the interest received. But this would depend on how the account codes are set already.

I hope this helps.

Poodle

Hi Helen

Good advice frorm Jenifer. Sage does not specify codes for this type of fixed asset investment and so you have to create them.

Poodle

King of the Mountains

I need to create a nominal code in sage for asset disposal, when i used sage line 50 it was already there but have changed to sage instant accounts and can't remember exactly where it's to go. Can anybody tell me? Thank you

Poodle

4200 - Sale of assets should do it

P

Nich

I tend to use the next number down from the N/C for purchase of assets ie
F & F = N/C 0030
F & F disposal = 0032 (0031 being F & F depreciation)

Poodle

Nich

I think that King is trying to create a disposale account.

Poodle

King of the Mountains

Thank you, found it! 4200 it was under sales of assets, I was looking for disposal of assets.

Thanks again:001_smile:

Burnsy

Is that right? 4200 Sale of Asset should be used for any disposal of Asset? I'm having to do this for the first time in Sage and want to get it right. just wondering if having a negative figure in the Sales section of P&L is going to be the best thing to do :001_smile: