Record and Transactions Settings

To save you time when creating records and processing transactions, you can enter default settings and preferences for Sage One Accounting.

  • Go to the Settings tab, then click Record and Transactions Settings.

Enter your default settings and preferences. Once you’re happy with the changes, click Save.

Customers

Days before invoice overdue * Enter the number of days your customers can have credit for.


This is used to calculate the due date on your sales invoices. If you change this, and you’ve already created your customers, this automatically updates the default credit days in their record.
Ageing Enter your default ageing periods in days. When you run an aged debtors report, your outstanding transactions for each customer are grouped by how old they are in these ageing periods.
Sales Ledger Account * Choose the default nominal ledger account you want to use for your sales.


This account is then applied to new customer records and is used when entering a free text line on sales invoices and credit notes. If necessary, you can change this when creating invoices and credit notes.


Tip: If you change this, and you’ve already created your customers, it doesn’t update the sales ledger account in their record. You need to change this manually in Contacts > Customers > the relevant customers’ records.
Sales Discount Ledger Account * Choose the default nominal code you want to use for recording discounts on your sales invoices.
Customer Statement Type Choose the type of style for your customer statements:

* All activity – This will generate a statement of all transactions.
* Outstanding items only – This will generate a statement of outstanding transactions.

* These details are compulsory.

If required, you can customise the number of credit days and the sales ledger account within a customer’s record. If you do this, the custom settings are used when creating invoices and credit notes rather than these defaults.

Suppliers

Days before invoices overdue * Enter the number of days credit you have before you need to pay your purchase invoices.


This is used to calculate the due date on your invoices. If you change this, and you’ve already created your suppliers, this automatically updates the default credit days in their record.
Ageing Enter your default ageing periods in days. When you run an aged creditors report, your outstanding transactions for each supplier are grouped by how old they are in these ageing periods.
Purchase Ledger Account * Choose the default nominal ledger account you want to use for your purchases.


This account is then applied to new supplier records and is used when entering a free text line on purchase invoices and credit notes.


Tip: If necessary, you can change this when creating invoices and credit notes. If you change this, and you’ve already created your suppliers, it doesn’t update the purchase ledger code in their record. You need to change this manually in Contacts > Suppliers > the relevant suppliers’ records.
Purchase Discount Ledger Account * Choose the default nominal code you want to use for recording discounts on your purchases.
Supplier Statement Type Choose the type of style for your supplier statements:

* All activity – This will generate a statement of all transactions.
* Outstanding items only – This will generate a statement of outstanding transactions.

* These details are compulsory.

If required, you can customise the number of credit days and the purchase ledger account within a supplier’s record. If you do this, the custom settings are used when creating invoices and credit notes rather than these defaults.

Payments & Receipts

Other Receipt Ledger Account * Choose the default nominal code you want to use when recording other receipts.
Other Payment Ledger Account * Choose the default nominal code you want to use when recording other payments.
Customer Receipt – Discount Ledger Account * Choose the default nominal code you want to use when recording a discount on a customer receipt.
Supplier Payment – Discount Ledger Account * Choose the default nominal code you want to use when recording a discount on a supplier payment.
Bank Interest Received Ledger Account * Choose the default nominal code you want to use when recording bank interest received.
Bank Interest and Charges Paid Ledger Account * Choose the default nominal code you want to use when recording bank interest and charges paid.
Default Payment Type * Choose whether you want the Supplier Payment tab or Other Payment tab to open first when recording a payment through the Banking option
Default Receipt Type * Choose whether you want the Customer Receipt tab or Other Receipt tab to open first when recording a receipt through the Banking option.

* These details are compulsory.

Products & Services

If you signed up for Accounting after 12 March 2015, you can create up to ten product price labels, including three default labels – Sales Price, Trade, Wholesale, which you can amend if required. You can also create up to ten service price labels, including one default label – Rate. You won’t have the Set global pricing labels or Set global rate labels check boxes.

Product Prices

Price Name * Enter a name for each of your price labels. You can amend the default name of Sales Price, if required.


If you want to mark a price name as inactive, clear the In Use check box. You can then delete the inactive price name if you want to.

Note: The sales price names for products also apply to stock items.

* These details are compulsory.

Default Product Ledger Accounts

Sales Account * Choose the nominal ledger account you want to use when selling your products.
Purchases Account * Choose the nominal ledger account you want to use when purchasing your products.

* These details are compulsory.

Default Stock Ledger Accounts

Purchases Account Choose the nominal ledger account you want to use when purchasing stock.

Weight Settings

Default Unit of Measure Choose Metric, Imperial (UK) or Imperial (US).
Default Measurement Choose the relevant measurement option.

Once a weight has been added to a stock item, you can’t edit the default unit of measure. You would need to remove all weights to be able to do this.

Service Rates

Rate Name * Enter a name for each of your rates. You can amend the default name of Rate, if required.


If you want to mark a rate as inactive, clear the Active check box. You can then delete the inactive rate if you want to.

* These details are compulsory.

You can amend this information in individual product and service records if required. If you do this, the information entered in the record is used when you create invoices and credit notes rather than these defaults. If necessary, you can change the default ledger accounts when creating invoices and credit notes.

Default Service Ledger Accounts

Sales Account * Choose the default nominal ledger account for the sale of your services.
Sort order for Product/Service menus You can choose to sort the order of items displayed in drop-down lists by Item Description or Item Code.

* These details are compulsory.

Accounting settings

Sort order for Ledger Accounts list You can choose to sort the order of ledger accounts displayed in drop-down lists by Ledger Name or Nominal Code.

* If you want the list of accounts to display in alphabetical order by name followed by the nominal code > choose Ledger Name.
For example, Other income (4900).

* If you want the list of accounts to display numerically by nominal code followed by the name > choose Nominal Code.
For example 4900 – Other income.
Show Negative Assets on Balance Sheet You can choose to show negative assets on your Balance Sheet As Liabilities or As Negative Assets.

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