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stephen72


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Balance sheet query
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Hi,
I am hoping that someone can help me with a problem that i have with setting up a  client on sage.
He has  a van which i have set up in the fixed asset register using codes 0050 and 8003 for the depreciation and have entered the book value etc.The depreciation has posted to the balance sheet but the van does not show on the balance sheet as a fixed asset.
I have not had this problem before with any other clients . I must have done something wrong but i can't find it .
Any advice would be appreciated
Thanks
stephen.

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BackOfficeGroup


Guru

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Have you looked under the COA - Chart of Accounts?

If you have created the code 0050, chances are it may not be there. Also, you need a depreciation code on the BS like 0051, 8003 should show on the P&L. Not sure if you have but you didnt mention it.

P

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RobH


Expert

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Hi Stephen,

I think Phil is right. Sounds like you have mixed the depreciations up.

Postings would be something along lines of:

dr 0050 xxx to get asset on balance sheet
cr 2310(HP creditor) or 1200 (bank) or however it was purchased xxx

and then for depreciation:

dr 8003 xx (to show on P&L)
cr 0051 xx (to show on Balance Sheet)

Rob

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Rob
www.accounts-solutions.com
stephen72


Senior Member

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Posts: 144
Date:
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Hi Phil/Rob,
Thank you for the help i have it sorted now.I can't believe i made such a simple mistake i should have realised what was wrong but i couldn't see the wood for the trees.

Once again thanks for your help
stephen

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