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• # 84847
• Thu 23 Aug 2012 08:58 PM

Hi, my Accountant has asked me to compare the Balance Sheet with outstanding debtors, outstanding creditors, VAT Liability and bank balance at the end of the month.  We use Sage Instant to do all our bookkeeping.

Can anyone shed any light on how I would do this?  I cannot find a suitable report for outstanding drs and crs etc, that would give me a balance on a partic date.

Also, just a stupid question, wouldnt the Balance Sheet figures from Sage, just be a compilation of  all the dr and cr accounts anyway?

Thanks for any help in advance 

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• # 84898
• Sat 25 Aug 2012 08:31 PM

Hi Ann,

You need to run Aged Debtors and Aged Creditors report as at the Balance Sheet date and tick the box which says "Exclude later payments".  Your Aged reports should then equal the Balance Sheet figure.  

If you run a Nominal activity report for VAT Liability (2202) and for the Bank (1200) at the period end, they should equal the BS figures.  Make sure you have done the bank reconciliation for the month end and that the VAT Liability is actually what you owe and also that the Debtors and Creditors are actually what is owed.

You could also run a Check Data to make sure that there are no errors with the data.

HTH
Pauline 

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• # 86326
• Mon 05 Nov 2012 02:17 PM

You could also add an example VAT control account, which would look something like this:

http://www.watpal.co.uk/app/download/5791447019/Example+VAT+control.pdf

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