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W i l l i s

New to Sage One

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Posted By

Hi everyone, 

I'm new to Sage One and have some questions that I can't seem to find the answers to or don't know enough about.

Codes - can someone explain codes to me in simple terms please? and if I need to make new one can I just literally go in and make one for anything?

Are all insurances put under the insurance code - van insurance, tradesman insurance, accountancy insurance?

I have put through some Yell invoices (under the marketing code) and matched them to the bank feed entry but they don't appear on the summary graph??

I'm getting a mix of answers when I google for road tax - is it NO VAT or 0% VAT? and does it come under the moter expenses code or something else?

If you have a monthly bank charge that gets taken and then refunded, so overall paying nothing, how do you put this through?

What happens if you have a yearly statement and no individual invoices for monthly payments? Do I make up a separate invoice for each month to match the payments against?

How do you change the code once matched? I go on the purchase invoice and the edit option is not available.

Can I delete a diesel receipt that I put in as 'other payment' and re-do it as a purchase invoice as I have done with all the other diesel receipts?

Any help appreciated :) Thank you.

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    Hi Willis,

    Thanks for using Sage City.

    Some of these questions cover topics that we don't normally advise on  - choosing a Nominal code and VAT rate - but I will do my best to help you out with what I can.

    Nominal codes are essentially categories for your spending and income, when you record a transaction you pick a code - let's say that we record a purchase of some diesel under 7300 - Vehicle Fuel then when running a report such as your profit and loss, you can easily see how much you have spent on fuel by looking at the value on your 7300 code. 

    In a similar way you can see how much money your business has made by selling specific goods or services.

    You can create as many codes as you like, so you can either record all your insurance as one code or if you think it's valuable for you to be able to report these different costs separately you might want to create a new code for each.

    If Invoices are not showing on a report, I would make sure that the report you are producing will show invoices and not only bank payments (we have a few different summary screens). It's also worth checking the date range you are running the report for.

    For VAT rates I would have to refer you to an accountant or HMRC's guide here. As I've mentioned above the code you choose is up to you, we don't have a default specifically for road Tax, but Motor Expenses seems a good fit or there is a Vehicle Licenses Code - 7320.

    If you have a charge that is taken and then refunded, you could either record this as a payment on account for a supplier or by recording an other receipt and an other payment to the same code.

    To edit a paid invoice, you would fist have to un-allocate the payment, you can find steps here.

    You can easily delete bank transactions from the bank activity if you need to re-post these.

    If this has answered your question please click More > Verify Answer.

    Tom

    Sage UKI

  • 0 in reply to W i l l i s

    Thank you so much for your reply, it's much appreciated! This has helped and I will check out the places you have pointed me to.

    I am going for Sage training tomorrow so I hope to get lots of useful information from that too.

    Thanks again :)

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