Cheque dates and allocation dates

Hi all

The company I have recent.y joined have an old old version of Sage 50 accounts

They have a strange way of processing cheque payments (yes will still pay via cheque)

They don’t post a purchase transaction, all they do is post the cheque payment matching the nominal codes all posted within a transaction description of the cheque number. (No supplier accounts set up on system as they work mainly from an old database system)

The item is posted with the date the cheque is raised.

If they raise a cheque for example dated 1st Dec 19 but not processed in bank account until 10th Jan 20, if we then press reconcile (again just one item to reconcile against, not PL posting and then payment posting) will it recognise the payment on Dec 19 or Jan 20?

i am assuming Dec 19 so this would in turn mess up previous years accounts which end on 31 Dec 19 (which have just been processed)

I have only recently moved to this company but it seems a very odd way of working (I’m looking to change all of this and bring in something like Sage 200 with its CRM advantages)

Any help / advice great fully received 

Parents
  • Hi Mark,

    Thanks for using Sage City.

    Apologies for the late reply. We've had some changes on the system and some questions were missed by mistake.

    You may have already resolved this now but it would use the date on the transaction. So if it was entered in to Sage with a date of 01/12/2019, that's the date it would use for reporting purposes. 

    The bank reconciliation won't affect which year it's represented in.

    I hope that makes sense.

    Kind regards,

    Sean
    Sage UKI

Reply
  • Hi Mark,

    Thanks for using Sage City.

    Apologies for the late reply. We've had some changes on the system and some questions were missed by mistake.

    You may have already resolved this now but it would use the date on the transaction. So if it was entered in to Sage with a date of 01/12/2019, that's the date it would use for reporting purposes. 

    The bank reconciliation won't affect which year it's represented in.

    I hope that makes sense.

    Kind regards,

    Sean
    Sage UKI

Children
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