We get a number of sales with Sage customers, and many of these people are used to the ins and outs of this accounting software. Whether you’re used to firing off a Sage invoice or a VAT return, the transition to KashFlow can be seamless.
One way to help with this process is to understand how the codes used in Sage relate to KashFlow.
Sage VAT terminology
Here’s what you need to know about the Sage codes surrounding VAT:
- T0 – Is the zero rate (0%)
- T1 – Is the current standard rate
- T2 – Is the exempt transactions (N/A or 0% depending on the transaction)
- T4 – Is the VAT on sales registered EC customers
- T5 – Is the reduced rate VAT at 5%
- T7 – Is the zero rated purchases from EC suppliers
- T8 – Is the standard rated purchases from EC suppliers
- T9 – Is out of scope not to be included on VAT return (N/A)
Sage audit trail transactions
Sage also has its own codes to refer to terminology within the audit trail. These can also be seen in KashFlow’s Sage Export report:
- BP = Bank Payment (Money Out Transaction)
- BR = Bank Receipt (Money In Transaction)
- CP = Cash Payment
- CR = Cash Receipt
- JD = Journal Debit
- JC = Journal Credit
- SI = Sales Invoice – default (Positive Valued Invoice Line)
- SR = Sales Receipt (Invoice Payment)
- SC = Sales Credit Note (Negative Valued Invoice Line)
- SD = Discount on Sales Receipt
- SA = Sales Receipt on Account (Unassigned Debtor Payment)
- PI = Purchase Invoice (Positive Valued Purchase Line)
- PP = Purchase Payment
- PC = Purchase Credit Notes (Negative Valued Purchase Line)
- PD = Discount on Purchase Payment
- PA = Purchase Payment on Account (Unassigned Creditor Payment)
Keep these Sage codes to hand and you should find managing your accounts with us straightforward.