Supplier and Customer Accounting Query
shamil91
Registered Posts: 94 Regular contributor ⭐
Hi All,
I hope you are well?
I have had a scenario where one of the supplier is also classed as customer to the business. The supplier provides flowers to the business but then from time to time the business will invite the supplier to have their stall during fayres to promote their flowers so now the business is classed as a customer. But I had been notified that they will not pay the stall fee however the business can deduct the amount owed to the supplier against their outstanding balance.
There is no Sales Invoice etc just an email, how would you record this on Sage 50?
Many thanks for all your help
Kind regards
Shamil
I hope you are well?
I have had a scenario where one of the supplier is also classed as customer to the business. The supplier provides flowers to the business but then from time to time the business will invite the supplier to have their stall during fayres to promote their flowers so now the business is classed as a customer. But I had been notified that they will not pay the stall fee however the business can deduct the amount owed to the supplier against their outstanding balance.
There is no Sales Invoice etc just an email, how would you record this on Sage 50?
Many thanks for all your help
Kind regards
Shamil
0
Comments
-
Shamil
The business has supplied a service so a proper invoice should be raised and included in the turnover.
I am not familiar with Sage but this could be settled via a contra entry onto the supplier's account. No actual money need to be exchanged.
1 -
Seems like a simple contra journal to me.
DR purchase ledger control
CR rents receivable
On Sage, it should be - Modules > Nominal Ledger > Journal, or something like that.AAT
Level 2 - 2011
Level 3 - 2012
Level 4 - 2013
ACCA
F4 - Corporate Law - Dec 2015 (passed)
F5 - Performance Management - Dec 2014 (passed)
F6 - Taxation - Dec 2013 (passed)
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F9 - Financial Management - Jun 2015 (passed)1 -
Hi Marie Noelle,
That is what I was planning on doing setting up an Invoice and contra it against the suppliers account.
Many thanks
Kind regards
Shamil0 -
Hi Clint M 15,
Thank you for your reply.
I was considering on raising an Invoice as Marie Noelle said but both methods do actually work.
Kind regards
Shamil0 -
Our methods are the same, it's just that I assumed the name of the income account.shamil91 said:Hi Clint M 15,
Thank you for your reply.
I was considering on raising an Invoice as Marie Noelle said but both methods do actually work.
Kind regards
ShamilAAT
Level 2 - 2011
Level 3 - 2012
Level 4 - 2013
ACCA
F4 - Corporate Law - Dec 2015 (passed)
F5 - Performance Management - Dec 2014 (passed)
F6 - Taxation - Dec 2013 (passed)
F7 - Financial Reporting - Jun 2014 (passed)
F8 - Audit & Assurance - Dec 2015 (passed)
F9 - Financial Management - Jun 2015 (passed)1 -
Hi Clintm 15
Thank you, your help and Marie's has been really good.
Kind regards
Shamil0
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