Adjustments in SAGE - The Book-keepers Forum (UK)

kpm · Member

Adjustments in SAGE

BackOfficeGroup · Guru

Kath

In sage you can over-write the VAT figure thats being input. Perhaps you can give a little more info, as if you are just moving between ledgers, you could use the maintnenance section to change the ledger code and not the transaction.

P

kpm · Member

Hi

Firstly I appreciate the help.

Summary of actions trying to perform.

Purchase invoice posted to supplier account but incorrect nominal ledger selected (suspense account) also the completely wrong figure was entered. The transaction was on the 16.4.08 and therefore vat amount was 17.5%. I was going to delete both accounts from the maintenance section and then re-enter the correct figures so that the payment allocated matched accordingly. However, when I re-enter the transaction in that period the standard vat rate is 15%.

Another area that I am struggling with is when a payment on account is entered on the system I assume this would automatically take the standard rate of vat into account, but when the sales invoice is entered and the vat rate is at the 5% rate is comes up with a mismatch when trying to match payment with invoice.

I am sorry if I am unable to expalin things properly it all gets confusing.

Thanks
Kath

BackOfficeGroup · Guru

Kath

In the maintenance section, it is possible to amend the nominal ledger code and also the amount entered, both the net and the VAT. If you do delete the entry, when you input the new amount, you will have to manually amend the VAT figure at that stage. The system will automatically pick up the % entered for the code, which at present should be 15%. The dates will not change that.

The payment on account is a payment recieved from the customer. It does not differentiate between net and vat elements. If it does not match the sales invoice, this would mean either you have entered the invoice wrongly, or the customer has not paid the correct amount. Do you mean 15% vat and not 5%?

Hope that helps.

P