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Post Info TOPIC: Bad Debts on Sage
Kathy


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Bad Debts on Sage
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Hi
Due to a customer going into administration I have had to write off some invoices as at 31st March as bad debts to nominal code 8100 although we have not claimed the VAT yet as not due. We have trade insurance on some of the invoices and have subsequently received a cheque for the insured amount. Can someone advise me how I should post the cheque amount to Sage please.
Thank you

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Kathy
Marky65


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Hi Kathy

You could post it to 4903 insurance claims or post it to 8100 to show a reduction in the value of bad debt.

Regards
Mark

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M & G Associates

Website www.mgassociates-accountancy-services.co.uk/

Accountancy Services Plymouth, Bookkeeping Payroll Sage Training

 
Tombombadil


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If you have written of your bad debt sales invoices to  Bad Debts (NL 8100) how have you done this?
You can reclaim the VAT as soon as the debtor goes into administation.
Yes, posting debt insurance reclaim should be posted to Bad Debts a/c, but was there a VAT elenent in the payment?

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Kathy


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Thank you for your help with this query. No there was no VAT element in the payment.

Kathy

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Kathy
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