Tranferring money between bank accounts to clear customer

Does anyone know how you would post a transfer between 2 bank accounts, to clear a customer balance

So I posted a bank transfer between the accounts in SAGE, both banks reconcile but I am left with the customer balance remaining

If I post a customer receipt into the receiving account, that clears the customer but where do I post the transfer coming out of the paying account ?  It's in the suspense just now because I can't see how I'm supposed to clear it off.

Any help appreciated !!

Thanks

L

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  • 0

    Hi,

    Thanks for using Sage City. 

    It's difficult to try and answer this without knowing how you've processed this sale, and it likely requires someone access such as your accountant to see your accounts to fully advise, and know what exactly has been done. 

    If your bank balances reconcile this indicates that you must have recorded the money coming in if the sale has been made, either as a bank receipt (BR), customer receipt (SR) or a sale on account (SA). If the customer account balance isn't correct, but the customer has paid you, and you've recorded that money coming in, my assumption is that you recorded the money coming in as a bank receipt, rather than as a customer receipt to Bank e.g 1200, then transferred it to bank e.g 1201.

    However this is just an educated guess based on what you have said. 

    You can't clear the balance by making a transfer.

    In this circumstance it would appear you need to: 

    1. Delete / reverse original transactions i.e reverse the bank transfer, and then reverse the bank receipt made.
    2. Then post the customer receipt to the bank it came into, then transfer the necessary bank transfer.

    This will then mean your customer balance is correct, and you've recorded the money coming in, with funds in the correct accounts.

    However, I would recommend getting in contact with your accountant to look over this to confirm what has been done, what needs to be done, especially if the transactions have already been VAT reconciled and submitted on a VAT return.

    Kind regards,

    Oli, Sage UKI

Reply
  • 0

    Hi,

    Thanks for using Sage City. 

    It's difficult to try and answer this without knowing how you've processed this sale, and it likely requires someone access such as your accountant to see your accounts to fully advise, and know what exactly has been done. 

    If your bank balances reconcile this indicates that you must have recorded the money coming in if the sale has been made, either as a bank receipt (BR), customer receipt (SR) or a sale on account (SA). If the customer account balance isn't correct, but the customer has paid you, and you've recorded that money coming in, my assumption is that you recorded the money coming in as a bank receipt, rather than as a customer receipt to Bank e.g 1200, then transferred it to bank e.g 1201.

    However this is just an educated guess based on what you have said. 

    You can't clear the balance by making a transfer.

    In this circumstance it would appear you need to: 

    1. Delete / reverse original transactions i.e reverse the bank transfer, and then reverse the bank receipt made.
    2. Then post the customer receipt to the bank it came into, then transfer the necessary bank transfer.

    This will then mean your customer balance is correct, and you've recorded the money coming in, with funds in the correct accounts.

    However, I would recommend getting in contact with your accountant to look over this to confirm what has been done, what needs to be done, especially if the transactions have already been VAT reconciled and submitted on a VAT return.

    Kind regards,

    Oli, Sage UKI

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