Can anyone help, We currently have a "dummy Euro Account " set up as we dont have a euro account set up at the Bank yet and we deal with a couple of comapnies in italy and France. On Sage 50 i use this dummy account to pay the suppliers but i need then to transfer this payment made to the current account. I i just do a bank transfer between 1225 ( dummy euro account ) and 1200 ( current account ) it goes into the current account as a credit and not a debit !! What am i doing wrong ?
Thanks for using Sage City.
As you post the supplier payments out of your dummy Euro bank account, you need to post a bank transfer to pay the money out of your live bank account and receive it into your dummy Euro bank account. This will take the funds out of your live bank account and reduce the balance in this account. It will also take the balance of your dummy Euro bank account back up to 0.00.
You can find a video guide on how to post bank transfers here.
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Thanks so so much, So Easy when you know how !!! I assume then i can reconcile the current account as that amount will be there showing , Thankyou
so i should transfer the amount from my Current account first into the Dummy Euro account and then make the payment to suppliers from there, think I've got it and then i should be able to reconcile my bank statements ?
You’re welcome Sue.
You can transfer the balance from your current account before or after you record the supplier payment, whichever is easiest for you. As long as you post the bank transfer before you reconcile your current account, the transactions will show for you to reconcile.
yes thankyou , ive almost done it , Thankyou for clarifying this issue for me, here's to clean accounts now . Learning more all the time , Thankyou again