Advice for AP/AR

Discussion in 'Cashflow forum' started by d0288, Jan 3, 2017.

  1. d0288

    d0288 UKBF Contributor Free Member

    Posts: 53 Likes: 1
    Hi,

    I am the bookkeeper for a small company and need some advice/suggestions how to get a system in place for AP/AR.

    The main issue is tracking what has and hasn't been paid. I'm not allowed to access bank statements, so I have to ask for bank statements with a breakdown of foreign currency transactions from my boss, who also makes the payments. My job is 50% admin to which I have deadlines the first half of the month. I don't manage to reconcile bank statements until towards the end of the month, so Sage accounts aren't as up to date as possible.

    Can anyone enlighten me on how I can get a good system in place for this?
     
    Last edited by a moderator: Mar 31, 2017
    Posted: Jan 3, 2017 By: d0288 Member since: Sep 21, 2016
    #1
  2. hortonas_tjh

    hortonas_tjh UKBF Contributor Free Member

    Posts: 86 Likes: 19
    Hi there

    Which version of Sage are you using?

    The "Accounts Essentials" software for example, has a "Bank Feeds" option so if your boss is happy to allow you read only access, maybe that could be an option?
     
    Posted: Jan 3, 2017 By: hortonas_tjh Member since: Oct 9, 2016
    #2
  3. hortonas_tjh

    hortonas_tjh UKBF Contributor Free Member

    Posts: 86 Likes: 19
    Last edited by a moderator: Mar 31, 2017
    Posted: Jan 4, 2017 By: hortonas_tjh Member since: Oct 9, 2016
    #3
  4. d0288

    d0288 UKBF Contributor Free Member

    Posts: 53 Likes: 1
    That sounds just like what I need. Thanks for the info.
     
    Posted: Jan 4, 2017 By: d0288 Member since: Sep 21, 2016
    #4
  5. hortonas_tjh

    hortonas_tjh UKBF Contributor Free Member

    Posts: 86 Likes: 19
    Glad to help :)
     
    Posted: Jan 4, 2017 By: hortonas_tjh Member since: Oct 9, 2016
    #5
  6. d0288

    d0288 UKBF Contributor Free Member

    Posts: 53 Likes: 1
    I've just looked through the article in it says this:

    "Can I set up Bank feeds using different currencies?
    You can only use Bank feeds using the same base currency that is set in your software. So if your base currency is sterling, you can only use Banks feeds with sterling bank accounts."

    The majority of our customers/suppliers operate in foreign currency transactions, to which I use the foreign trader module. Has anyone managed to make the bank feeds work with foreign currency? I dont mind still updating accounts manually, so long as I can still download the bank statements and info.
     
    Posted: Jan 4, 2017 By: d0288 Member since: Sep 21, 2016
    #6
  7. hortonas_tjh

    hortonas_tjh UKBF Contributor Free Member

    Posts: 86 Likes: 19
    Does it all (different currency payments) go to one account or various accounts?

    I would see if Sage are prepared to give any advice here: https://my.sage.co.uk/public/help.aspx#/customer/support/accounts

    Unfortunately I don't use Sage myself for these very reasons but I knew of the recent addition of the "Bank Feeds" feature.
     
    Posted: Jan 4, 2017 By: hortonas_tjh Member since: Oct 9, 2016
    #7