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- Jul 16, 2013
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Quick question, I'm using SAGE Instant Accounts (recently installed) for a company whose services includes rental properties. I'm a very new! ACA trainee.
I'm basically using the bank statement to input all the transaction so that the boss can have the accounts computerised.
I have entered a bank RECEIPT from an agency who handles property.
The receipt was £1,054 (as on bank statement) and I used the nominal code for rental income.
This receipt broken down is £1,600 rent, less £546(455+VAT) agency fee.
How can I correct the transaction to account for the fee+vat ?
The boss wants a bank rec. next so I assume I can't just add a transaction...?
Do I have to do something in the journal?
Thanks for any help ,even if you aren't SAGE familiar maybe some theory could help me
I'm basically using the bank statement to input all the transaction so that the boss can have the accounts computerised.
I have entered a bank RECEIPT from an agency who handles property.
The receipt was £1,054 (as on bank statement) and I used the nominal code for rental income.
This receipt broken down is £1,600 rent, less £546(455+VAT) agency fee.
How can I correct the transaction to account for the fee+vat ?
The boss wants a bank rec. next so I assume I can't just add a transaction...?
Do I have to do something in the journal?
Thanks for any help ,even if you aren't SAGE familiar maybe some theory could help me