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Help Required Please

  • 4 posts
  • # 110039

I am a newley qualified bookkeeper and I am just starting to do the books for my first client.

I have completed the first month on Sage. I have ran a P&L report and I have an amount under Suspense and Misposting. I have realised the amount is the opening balance of the bank account. When I set up the details for the bank account in Sage it asked me for an opening balance of which I put in this amount. I have realised that this was the incorrect way of doing it.

Is there any way I can get around this rather than having to start all over again?

Any help is much appreciated.

Many thanks

Vicky

  • 356 posts
  • # 110042

Hi Vicky

do you mean you posted the opening balance to suspense instead of to the bank ? If so you can just do a journal to move this 

 

refards

sharon

  • 4 posts
  • # 110044

Hi Sharon

I didn't post it to the Suspense account. When setting up the details in Sage and putting in the clients Bank name, account no etc, it also asked for a opening balance so thats when I put it in.

Then its just showed up under Suspense & misposting on the P&L report.

So it probably more like a misposting I think.

 

Thanks

Vicky 

  • 491 posts
  • # 110052

Hi Vicky

Have you seen the posting just before yours - entitled Opening Balance Corrections.

Roy has given a very informative answer that sounds like it answers your question too :-)

Carol

  • 4 posts
  • # 110054

Hi Carol

Thank you for replying, will have a look.

Thanks

Vicky

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