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Post Info TOPIC: Journal help


Newbie

Status: Offline
Posts: 1
Date:
Journal help


I cant seem to think straight about this query Sage 50

All of our revenue is processed through Stripe (payment gateway)

  1. All bank receipts from Stripe I post to NC 4000 using T1 for vat (Debit bank and credit Sales receipts)
  2. All Stripe payment fees are invoiced & are posted to Sage using a supplier invoice to NC 6001 (cost of sales)

However, Stripe automatically deduct their Invoice fees prior to forwarding the remaining balance on to us. Are you able to give me an example of what I would need to do please to correct the Purchase and Sales ledgers



__________________
A Perera


Master Book-keeper

Status: Offline
Posts: 8646
Date:

AngP wrote:

I cant seem to think straight about this query Sage 50

All of our revenue is processed through Stripe (payment gateway)

  1. All bank receipts from Stripe I post to NC 4000 using T1 for vat (Debit bank and credit Sales receipts)
  2. All Stripe payment fees are invoiced & are posted to Sage using a supplier invoice to NC 6001 (cost of sales)

However, Stripe automatically deduct their Invoice fees prior to forwarding the remaining balance on to us. Are you able to give me an example of what I would need to do please to correct the Purchase and Sales ledgers


Please can you do an intro - we always ask newbies.

Usual stuff - what prof body do you belong to, do you work for yourself or in a practice/ firm, who is your MLR with, are you a bookkeeper or accountant, what qualifications, how long in role, where up to in your studies-what exams passed/with what body/in midst of doing, where based, what you did before this role? That sort of thing. Helps get to know you but also how best to pitch answers.

Also please add your first name so that it appears under the signature bar on your posts? Saves everyone looking it up each time!! (Edit profile --->signatures)

You havent got anything in your Sales ledger if you have processed items as described above.

Please also remove the link to your business on your profile. Advertising is for long standing responding members only. (Site rules)



__________________

Joanne

Winner of Bookkeeper of the Year 2015, 2016 & 2017

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position

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