Sage advice needed please

TashaTasha Settling In NicelyRegistered Posts: 19
Hi All
Beautiful weather today, I am hoping someone can answer a query for me, A friend has just taken on some bookkeeping for a social club using sageline 15, has anyone any ideas how she can input weekly bar takings onto sage, these are banked on a weekly basis, they want to do quartly vat return, i was thinking of doing a dummy weekly sales invoices to the club and entering the weekly takings as a receipt to account for the entry in the bank. Any advice or suggestions more than welcome please.

Many Thanks

Comments

  • Sulew17Sulew17 Well-Known Registered Posts: 174
    Hi, I would think that the easiest thing to do is set up a cash sales / bar takings ledger - you can change the name of one of the nominal accounts using settings. Just class the takings as cash sales and enter the takings into the bank account as normal.
  • MonsoonMonsoon Font Of All Knowledge FMAAT, AAT Licensed Accountant Posts: 4,069
    I would be inclined to do a Bank>Receipt every time they are banked, but watch the date if the banking spans a month end. What I tend to do is a batch of cash bankings spans 2 months, is to split the batch into, say, march and April, and date the march bankings 31st march so it falls into the right month, and the April ones on the actual date of banking in April, and then pick both up on the bank rec. I suppose a more correct way of doing it would be to post the march ones to cash received and do a cash to bank transfer for the march part of the mixed batch.
  • TashaTasha Settling In Nicely Registered Posts: 19
    Hi both
    Thanks for your advice,there is a cash account set up and she was going to do a cash sales entry and then transfer it to the bank or entry the deposit to the bank as a receipt to the bank using the paying in slip number as the ref, the only problem is accounting for the vat for the sales, have you got any suggestion how she can do this as she needs to show the input&output tax to enable her to do the quartly return for his vat liabilty.

    Many Thanks in advance
  • Gem7321Gem7321 Experienced Mentor DevonMAAT, AAT Licensed Accountant Posts: 1,438
    When she posts the receipt to the cash account as T1 this will account for the VAT. Then when she does the transfer from the cash account to the bank account it will be under T9 so no further effect on the VAT.
  • TashaTasha Settling In Nicely Registered Posts: 19
    Hi Gem
    Great Thanks very much, i will advise my friend, enjoy the rest of your weekend.

    Regards Tash
  • Gem7321Gem7321 Experienced Mentor DevonMAAT, AAT Licensed Accountant Posts: 1,438
    No problem
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