Hello everyone, I'm new to Sage 50 and wanted to ask a couple of things

1) Council Tax nominal code?
2) I run a pub and the food orders I have entered I've put under nominal code is 1001 is this right also a supplier of mine gives us a discount, Ive put this in as a batch credit with the same invoice number but with a C, now Im thinking this is wrong and I should put it in as a discount on against the invoice?
3) I have a separate company doing my payroll, do I still list the wages in wages and then the charge for this service under professional services as a supplier?

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  • 0

    Hi James

    Others are likely to have different nominal codes to you, but broadly Sage splits codes into categories.  All codes up to 3999 are balance sheet items, so they retain their values after running year end.  All codes from 4000 onwards are profit and loss items that net down to a single value to be carried forward as retained profit at year end. Profit and loss items would be your normal income and running costs. So:

    1) Food orders shouldn't be posted to the Stock code 1001 as it's likely that they are normal cost of sales, which would be a 5000 or 6000 code depending on your setup (meaning the code starts with 5 or 6, not literally code 5000!). When you do a stock take, any adjustments to the stock value would be posted to 1001.

    2) Council tax is essentially the same as General Rates which is likely to be a 7000 code. Just rename the General Rates code to Council Tax.

    3) Sounds right. Your payroll provider should tell you the total net pay, pension and HMRC liability and you post those into the 6000 or 7000 area (assuming you are not posting a full liabilities journal, in which case you'd also post to the 2000 wages liabilities account).  When your payroll provider bills you for their services, post it as professional services which is likely to be a 7000 code.

  • 0 in reply to Anita Harper

    Thanks Anita, any idea on the supplier discount bit. Example the invoice shows as follows

    Discount 86.83

    Total 1276.83

    VAT 1.74

    Total to pay  1191.74

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