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Nominal Code cross over ?

  • 30-11-2010 1:29pm
    #1
    sage4me
    Registered Users, Registered Users 2 Posts: 79 ✭✭


    Hi,

    We would pay entry fees to sales and registration etc on behalf of our customers for livestock sales, and then invoice them for them at the end of month for those amounts. So if I am entering the 'supplier invoice' onto sage it will be in my nominal code of 5102 for registration / entry fees in sage, But if I am invoicing the customers, should I also be entering the nominal code as 5102 to correspond or should it be entered as a 4100 (other sales) - its not technically a sale as such.

    The same with transport, when we bring the livestock up to the sales on our customers behalf. I was entering them as 7501 Carriage / transport, but have seen a 4906 nominl code for distribution carriage. Should I be entering them there instead ?

    Thanks in advance..


Comments

  • #2
    J.Ryan
    Registered Users, Registered Users 2 Posts: 474 ✭✭J.Ryan


    You can do it either way

    if it is just a re-imbursement (you are not making on the transaction) it might be more correct to credit purchases as they are not costs to your business.

    If however you are charging an add on then I would credit sales.

    Which ever you decide, be consistant and ensure that your accountant/auditor knows what you did.


  • #3
    sage4me
    Registered Users, Registered Users 2 Posts: 79 ✭✭sage4me


    Hi,

    For the registration/entry fees, no we are not making anything, we just pay it and then invoice the customer.

    For the transportation fee's it is our horse box so we are actually making money and it is not a purchase and we don't have to pay a supplier, thats why I wasn't sure on this one.

    Thanks


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