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Payments on account

Payments on account happen for all sorts of reasons, be it credit card payment where you are waiting for some one to empty their wallet of receipts or you are just a little bit too eager to keep the bank up to date. The payments on account mostly happen with purchases but can equally apply to customers. For those of you moving from Sage One Accounts it will be a new experience to be able to put payments on account but from Sage 50 you will scratch your head when you have now received and entered your missing invoice and you want to match your payment. Yes in Sage One Accounting you have gone in to the Bank payment tabs as you would have expected and happily ticked all the necessary boxes only to be told you can not have a nil payment. Slightly annoyed but not to be beaten you think, right I will get you next time this customer/supplier has a transaction! Joy of joys that does not need to be the case, just pop along to the offending Contact and with one click on their name it will take you to their account and under the little blue ‘Manage’ button you will find your option of ‘Account Allocation’. As the Account allocation brings up all the relevant transactions for that contact you can click away to your hearts content and the software at this point will be as happy as Larry to let you have a Nil balance.

 
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