Hi, hope someone can help me. I am new to the sage a/cs package, i have been working on excel spreadsheets, taking me too long so decided on this. I have put in an opening balance when setting company details. Looking at the nominal ledger i have a debit balance in bank a/c and a cr balance in the suspense a/c. I know i need to move this from the suspense a/c but where to? p/l a/c???? as an opening bal??? please can someone advise me
-- Edited by Tracey2711 on Friday 21st of January 2011 10:52:55 PM
Are you only entering one Opening Balance or do you have more opening balances to enter? as if you do have more then just carry on entering them if at the end when you have enterd all the opening balances if your dr and cr are right this will put your Suspense account back to zero hope this helps you if not let me know
Martyn
-- Edited by nautica on Saturday 22nd of January 2011 02:06:59 PM
-- Edited by nautica on Saturday 22nd of January 2011 06:25:20 PM
The opening balances should form part of the opening balance sheet - fixed assets, debtors, bank, etc.. From experience, I suspect that the balance on suspense will be the entries from debtors/creditors/bank. The usual place to move to would be P&L account (the balance of profits from previous periods).
