Record expenses and payments out
Once you've set up your bank accounts, you can start recording your payments and expenses.
These can be:
- Payments to a supplier to a pay a purchase invoice you've entered in Sage Accounting.
- Payments to suppliers where you haven't recorded a invoice in Sage Accounting.
- One-off purchases where you don't want to create a supplier record.
- Other payments or expenses where you just want a record of the money paid out.
You can use Purchase Automation to easily create purchase invoices from uploaded documents or image files. Open the About Purchase Automation guide to find out more.
All payments are entered from the Banking section. Go to Banking, select New then Purchase/Payment.
Pay a supplier invoice<![CDATA[ ]]>
- Select the Supplier Payment tab.
- Select the supplier you want to pay.
- Choose the bank account to make the payment from and enter the details such as Method, Date and Reference. Including a reference is useful as it helps you to trace the payment later.
- There two ways you can record the amount to pay:
- Select the supplier invoices you want to pay from the bottom section of the page. The Amount Paid is automatically calculated for you.
Enter the amount you want to pay in the Amount Paid box and then select the invoices to mark as paid.
Where the amount paid doesn't exactly match the total value, the amount left over is paid from the last invoice selected.
Click to change the amount paid for each invoice.
Record a payment or expense
Here you're recording a payment you've made that's not connected to a supplier invoice. This could be for expenses such as fuel or petty cash purchases.
Watch a video about entering an expense
Note: Other payments cannot be allocated to a purchase invoice at a later date.
Here you choose the Ledger Account to categorise the payment. For example, if the payment is for fuel, then you might choose the 7300 Vehicle Fuel ledger account.
If the payment was for several items of different items, then you can break the payment down and categorise it across multiple ledger accounts. Just make sure the totals all lines matches the Amount Paid. The payment still appears as a single record in your bank account.
For example, if you purchased both stationery and refreshments for the office at the same store, you might want to break these costs down using the ledger accounts for stationery and ledger account for office refreshments.
- Select the Other Payment tab.
- Choose the bank account to make the payment from and enter the details such as Date and Reference. Including a reference is useful as it helps you to trace the payment later.
- Enter the Amount Paid.
- Choose the Ledger Account to categorise the payment and enter the values. Don't forget to choose the correct VAT rate. If there's no VAT, select No VAT from the drop-down.
- Make sure Totals match the Amount Paid and click Save.