Sage One For Dummies by Jane Kelly

Author:Jane Kelly
Language: eng
Format: epub
Publisher: Wiley
Published: 2011-11-22T16:00:00+00:00

Figure 7-3: Other Income screen for entering cash sales and other income.

2. Enter the necessary details in Box 1:

• Payment method: Choose Bank Receipt (such as a standing order), Cash Receipt (literally cash as in notes/coins) or Cheque in Hand (any cheques received).

• Type of Sale: Here you can choose Bank Charges and Interest, Other Income or Sales. You can also create a new sales type by clicking Create new link at the bottom of the drop down list.

• Payment Date: Enter the date that the money was paid in.

• Invoice Date: The invoice date defaults to the payment date, and is there so that if the transaction you’re posting is subject to VAT, Sage One automatically puts it on your VAT return. If you don’t have an invoice date, don’t worry; just let Sage give it the payment date.

The options you select in Box 1 have a direct effect on what you enter in Box 2. For example, if I were to enter that the payment method was a Bank Receipt in Box 1, Box 2 automatically defaults to my Buxton Bank Current account, because this bank account is the only one I have set up.

3. Enter details into Box 2 as required:

• Name: You can enter a customer name here, if you want to record a cash sale against a customer without actually raising an invoice. You can also use the new contact icon to create a new customer.

• Reference: If you’re recording bank interest, you can make a note of the interest period.

• Bank Account: Select the bank account that you want to use.

4. Enter details into Box 3:

• Total: Enter the total amount received.

• VAT rate: Select the VAT rate if applicable.

• Tick box: Tick if total includes VAT.

If you aren’t VAT-registered, these boxes won’t appear.

5. Click Save when you’ve checked all the details you entered. A confirmation message appears saying that the transaction was posted successfully.

You can see an example of how cash takings are entered in Figure 7-4.

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