EnteringInvoices and credit notes in sage 200cloud

Entering Invoices and Credit Notes in Sage 200cloud

In Sage 200 by Declan Bonar

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Reading Time: 4 minutes

Invoices and Credit Notes are the building blocks of a company’s sales records. They usually include the issued date, names, and addresses, contact names, terms of payment and a description of the items purchased. As such, it is of great importance that they are correctly accounted for and entered into your Sage 200 system. Due to that, this article will cover how to enter an invoice, and its counterpart, the credit note.

Whilst an invoice notes a product purchase from a customer, a credit note details the opposite. A credit note can do one of two things. It can reduce the initial invoice payment, or it can equal the same amount of the initial invoice, hence canceling out the transfer completely.

Below, we will detail how to enter an invoice in the Sales Ledger, adding a receipt against a customer, reversing this transaction, manually entering a credit note and amending an incorrect invoice. These various helpful tips will give you most of the tools you need to handle entering invoices and credit notes on Sage 200.

Entering Invoices in Sage 200

To enter an Invoice in the Sales Ledger, start off by opening Sage 200.

  • Go to Sales Ledger > Customer List > Highlight a customer in the list > click on the Invoice button
  • Fill in the Dates > Ref – this can be whatever you want, also fill in the second ref. Again, this can be whatever you want it to be – When you enter in the reference fields, you can run a duplicate checker by clicking the tick on the right (use the tab key to scroll through the options).
  • Enter the value/amount. Notice that it automatically adds VAT
Sales Invoice Form - Sage 200 Summer 2019

Sales Invoice Form – Sage 200 Summer 2019

  • Save > Close

When you want to add a receipt against this customer, you would:

  • Go to Sales Ledger > Customer List > Highlight a customer in the list > click on Receipt button
  • Fill in the Ref – this can be whatever you want, also fill in the second ref. Again, this can be whatever you want it to be – (use the tab key to scroll through the options)
  • Enter the value/amount, including the VAT.
Sales Receipt Form - Sage 200 Summer 2019

Sales Receipt Form – Sage 200 Summer 2019

  • Save > Close

If you hit the save button now, you would have an outstanding invoice and receipt. If you hit save and allocate, you will save the receipt and allocate the invoice at the same time.

Hit either of the above, in this example hit Save and Allocate

This will bring up the Customer Allocations Screen

Allocation Form in the Sales Ledger - Sage 200 Summer 2019

Allocation Form in the Sales Ledger – Sage 200 Summer 2019

Notice in here that the value in the Debit screen (bottom one) the allocated value is 0.00, change the value in here to match what is in the Credits screen (top one).

  • Press Allocate. This will then put the difference to 0.00
  • Save > Close

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Entering Credit Notes in Sage 200

There may be times when you want to reverse this transaction, to do this you would:

  • Go into Sales Ledger > Enter Transactions > Adjust Transactions > Correct Transactions
  • In the Code box, use the drop-down to find the company
Correct Transactions Form in the Sales Ledger - Summer 2019

Correct Transactions Form in the Sales Ledger – Summer 2019

  • Highlight the transaction that you want to reverse – either the Receipt or the Invoice
  • Click Reverse, if you were reversing the invoice, you will automatically generate a Credit Note.
  • Save > Close
  • Re-enter the correct information (as above)

Or, you can manually enter a credit note by following these next steps!

  • With the customer highlighted, click on the Credit Note button
  • Enter all the details, as before, Ref > Value
  • Save > Close
  • You then need to Allocate the Credit Note
  • Go to enter transactions on the left > Allocation
  • Find the customer, in the drop-down on the code button
  • Then enter the amount, Inc. VAT on both screens
  • Allocate > Save

You can go into the Transaction Enquiry to check that everything balances. Untick the show outstanding only box, as this would only show the outstanding transactions.

If someone has entered an invoice incorrectly, you would:

  • Go into Adjust Transactions > Correct Transactions 
  • Select the customer you want to amend
  • Highlight the Transaction > Instead of using the Reverse function, hit Correct.

This will pull up the same form you used when initially entering the Invoice. You can amend any field in here. When you hit Post Corrections, Sage will automatically post a credit note in the background for the original incorrect transaction. It will then post the correct Invoice to the account. Finish the process off by allocating the invoice to the relevant Receipt.

Fields Available to Correct in the Correct Transactions Form - Sage 200 Summer 2019

Fields Available to Correct for Invoices – Sage 200 Summer 2019

And that’s it. Simple as that. We hope this blog has helped you out in some way! If your problems with this persist, please don’t hesitate to contact the team here at itas. 

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