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Post Info TOPIC: Sage Chart of Accounts for restaurant and property businesses
maxmillion


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Sage Chart of Accounts for restaurant and property businesses
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Hi,
I have searched the web and this forum but cannot find the answer I require.

I have two potential new clients; one runs a restaurant/takeaway and the other has two or 3 properties that he rents out.
I use Sage Line 50 and was hoping someone could advise or provide me with a COA's for both the restaurant and property business as there are a few things in there that do not appear in the general chart of accounts.

While I can obviously edit the general set, I would prefer if possible to have a set that someone is already using.

I would appreciate it if anyone can advise or point me in the right direction.

Thanks

Michael

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M4 Books Ltd


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Hi,

I don't have anything that I can supply you with but what I find best for a chart of accounts is looking at the categories used in the clients previous years detailed financial statements.

Unless doing a higher level of management reporting for the client, you would rarely need to use any more codes than this and they tend to match what is already on Sage.

For example, with the 3 properties I would only use one 'rent received' code and just have the property number in the 'reference' or 'detail' column so that you can see where the money has come from.

Hope that helps,

Andy

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Bookkeeping and payroll services in and around Swindon
www.m4books.com
semsley


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You could also use department for the properties this way you could show P & L for individual properties if that were required.

As far as COA is concerned just make the nominal accounts you need but make sure they are in the correct ranges.

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Advice from beyond the grave!!!

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Marky65


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Hi

When you create a new company in sage, isn't there the opportunity to select the type of chart of accounts that you wish to use, and if my memory serves me correcly from when I had a restaurant there is a coa for that business, sorry can't help with property business.

Regards

Mark

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M & G Associates

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

Accountancy Services Plymouth, Bookkeeping Payroll Sage Training

 
maxmillion


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There is a selection of alternative COA's with Hotel being the nearest type to the restaurant one, so that I can modify. (the restaurant is actually a takeaway - and newly opened, so I really need to just exclude the alcohol and the accomodation related nominal codes.

I realise it is relatively easy to create or edit any Chart of accounts, but I guess I was looking for the easy way or at least something that was already working for someone, without me having to reinvent...

Thanks for all the advice marky65, semsley and M4 Books Ltd.

Michael

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