How to post a bank payment or receipt

When you post a bank payment or receipt, the transaction type depends on the account type in the bank record. The transactions appear on the audit trail as follows:

BP - Payment from a bank account
BR - Receipt from a bank account
CP - Payments from a cash account
CR - Receipt from a cash account
VP - Payments from a credit card account
VR - Receipt from a credit card account

TIP: If Sage 50 Accounts isn't running at full size on your desktop, the Bank Payment and Bank Receipt options are available in the 'Payments' and Receipts' drop down lists on your toolbar.

To post a bank payment

Click Bank accounts then click Payments and click Bank payment.

Enter the transaction details as follows:

Bank	Choose the bank account the payment is coming from.
Date	Enter the date of the payment.
Ref	Enter a reference, of up to 30 characters, if required.
Ex. Ref	Enter an extra reference, of up to 30 characters, if required.
N/C	Enter the nominal code to record the payment against. TIP: If your payment covers several items with different nominal codes, you can enter each nominal code as a separate line. Provided the items are next to each other and have the same bank, date and reference, they are grouped together when you save.
Department	Sage Instant Accounts Plus and above - From the drop-down list, choose a department.
Fund	From the drop-down list, choose the required fund. This only appears if you select Enable Charity \ Non-Profit in Settings > Company Preferences.
Project Ref	Sage 50 Accounts Plus and Professional only If this transaction relates to a project, enter the reference here. This only appears if you select Enable Project Costing in Settings > Company Preferences.
Cost Code	Sage 50 Accounts Plus and Professional only From the drop-down list, choose the required cost code. This only appears if you select Enable Project Costing in Settings > Company Preferences.
Details	Enter a description of up to 60 characters.
Net	Enter the net value of the payment.
T/C	If you're VAT registered, enter the appropriate tax code. If you're not VAT registered, use the non-vatable tax code, T9 by default.
Tax	When you enter the net value and tax code the VAT value calculates automatically.

Click Save then click Close.

To post a bank receipt

Click Bank accounts then click Receipts and click Bank receipt.

Enter the transaction details as follows:

Bank	Choose the bank account the receipt is going to.
Date	Enter the date of the receipt.
Ref	Enter a reference, of up to 30 characters, if required.
Ex. Ref	Enter an extra reference, of up to 30 characters, if required.
N/C	Enter the nominal code to record the receipt against. TIP: If your receipt covers several items with different nominal codes, you can enter each nominal code as a separate line. Provided the items are next to each other and have the same bank, date and reference, they are grouped together when you save.
Department	From the drop-down list, choose a department.
Fund	From the drop-down list, choose the required fund. This only appears if you select Enable Charity \ Non-Profit in Settings > Company Preferences.
Project Ref	Sage 50 Accounts Plus and Professional only If this transaction relates to a project, enter the reference here. This only appears if you select Enable Project Costing in Settings > Company Preferences.
Details	Enter a description of up to 60 characters.
Net	Enter the net value of the receipt.
T/C	If you're VAT registered, enter the appropriate tax code. If you're not VAT registered, use the non-vatable tax code, T9 by default.
Tax	When you enter the net value and tax code the VAT value calculates automatically.

Click Save then click Close.

[BCB:180:Andy Footer:ECB]

[BCB:19:UK - Sales message :ECB]

Bank payment and receipt transactions