Sage Tips - Recording Retentions in Sage 50 Accounts
If you work in the Construction industry you are
probably already aware of retentions, this is how to
record them in Sage 50 Accounts .
Post an Invoice with Retention
First open up the customer module and select new
invoice from within the links pane. You will now see the
Batch Customer Invoices window.
Now enter the relevant details into the window as below:
A/C Date
N/C Details
Net
T/c VAT
ABC Inv Date
4000 Sales Invoice Details
9000.00 T1
1575.00
ABC Expiry Date of Retention
4000 Retention Details
1000.00 T1
175.00
When you wish to post the invoices press save.
The invoices are now posted and the Batch Customer
Invoices window will clear.
You can now click close to return to the Customers
window.
A batch customer invoice has now been posted for the
work completed. It will appear as the value due and the
retention value.
Posting a Customer Receipt
First you need to open the Bank module and select
which bank will receive the money. You will see the
selected bank is now highlighted.
Click Customer from the Bank Accounts toolbar.
You will now see the Customer Receipt window. Complete
as follows.
A/C Box - enter the reference for the customer and press
tab, you will see all the outstanding items for that
client appear in the table.
Date Box - enter the date you want to appear on the
receipt transaction. This can be amended but will
defaults to today's date.
Amount Box - enter the value of the receipt and then
tab.
Receipt Box - if you enter the correct figure in the
receipt box, it will automatically be allocated to the
invoice items.
Click save to post.
You have now recorded that your customer has paid. When
you receive the Retention simply repeat the process
against the appropriate entry.
Sage 50 CIS -
Sage Construct Advanced
-
Sage Estimating -
Reactive Maintenance |
