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Debtors Control Account - Sage Instant software

  • 35 posts
  • # 111963

Using Sage for cash accounting I put all receipts through the bank module as well as creating invoices (for accurate sales figure and for a debtors figure).  As when each debtors pays his bill, I type the invoice and post to debtors account and then use bank receipt module to pay off.  I suddenly have realised that I have a credit balance in the debtors account and wonder can anyone explain why this may be.  When the business was first put to Sage there were invoices input.  Now as I am totalling out all invoices I worry that it looks like we owe someone money but we don't, I don't know how to correct or where to start looking.  As I cannot pay off an invoice without creating one first, not having recording invoices does not seem like the reason why I have a credit balance, and it's for £3000 plus.

  • Member PM.Dip
  • Practice Licence
  • 100 posts
  • # 111969

Hi Happystudent

 

if I understand what your doing as correct, I think your accounting for the money twice, When you receive payment - do you use the customer module to clear the invoice or do you just post as a bank receipt??

 

you need to create the invoice first and then when you receive payment, clear the invoice through your customer account. 

hope that helps

CAP

Associate PM Dip

  • 35 posts
  • # 111994

Hi thanks for your reply.  I am posting an invoice and then clearing through a customer receipt yes so I am doing this right.  I since found that this credit figure in the Debtors account that is carrying through to present was the difference between a credit done as an opening balance in 2014, and if I subtract the outstanding balances in the customer accounts at present it leaves the current credit balance.  This credit balance is carrying through to this year and it needs somehow correcting because I am worried that it is affecting the accounts. As far as I knew the balance in this account should be a debit.  So the question now is how do I correct this figure, all my other balances are ok but this one ?

Thanks

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