Sage Help!

[Sairz]

Hi there,

I work for a company whose last bookeeper (and I use the term very loosely!) has completely messed up our books on sage. We are now in the process of being wound up as she hadn't made any payments to HMRC for a considerable length of time. I am currently the administrator, but am in my second year of an Accounting HND. We have been shown a bit about sage, and because of this, my director has asked me to try and get sage up to date for the liquidators. I know most of what I am doing in Sage, but my director has paid for things himself using his personal debit card (as we do not have any company cards) and I'm a little unsure of how to show this in sage. In college, we were only shown how to make payments by cheque or bacs from the company's bank account. I've looked through the nominal ledger and nothing has been set up to show a directors account. Any help anyone can give would be much appreciated!

Thanks
Sairz

 

[johndon68]

Generally you would set up a bank account called something like Directors Loan Account and then make the payments from there.

John

 

[Sairz]

Thanks for that John. Should I use a nominal code that is near to the bank account?

 

[Ann-marie]

Hi there,

Yes you would need to use a nominal code that is in the range of 1200 - 1209 (these are set as Bank Accounts in a standard version on the chart of accounts).

If you choose company / COA / Click on default Layout of Accounts / Current Assets

Here you will see the nominal code range for your bank accounts on the right towards the bottom, just make sure the new nominal code is within that range.

 

[iridessa]

Try and get some kind of evidence eg. receipts from him, to back up things paid for personally - especially if this starts to mount up in value.....as well as recording in sage.

 

[Sairz]

Thanks for your help everyone. You've been great! Wish me luck!!