Forum

• # 80629
• Thu 08 Mar 2012 05:57 PM

Dear all,

Could anyone please help me with two of questions below?

1. I received the adjustment from the accountant for my client, shall I enter the adjustment via the journal entries before or after the year end?

2. Do I have to clear Audit Trail for the year end or just leave it as it this?

Thank you very much and I really appreciate for your help.

Indah.

• Best Regards, Indah.
  
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• # 80649
• Thu 08 Mar 2012 11:40 PM

Hi Indah

How you would do this varies depending the accounting system you are using.

Kind regards
stuart      

• Forum Moderator, South East & Greater London Regional Chairman
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• # 80653
• Fri 09 Mar 2012 07:38 AM

Stuart Wildmansaid:

“Hi Indah

How you would do this varies depending the accounting system you are using.

Kind regards
stuart      ”

• Best Regards, Indah.
  
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• # 80669
• Fri 09 Mar 2012 11:23 AM

Hi Indah

When using Sage my advice is to put the journal in as the last day of the previous financial year as the purpose of the journal is to make your brought forward TB the same as the accountants.  My advice when being issued journals by accountants is to ask them for their opening balances and then compare to yours to make sure that the journal is accurate!

It makes no difference if you clear down the audit trail or not but if your client has a large number of transactions it is worth it as it can speed up the program if you have noticed it getting slower.  Always keep at least three current months when doing this.


Kind regards

Denise

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• # 80672
• Fri 09 Mar 2012 01:37 PM

Hi Indah

I find accountants are great at adjusting the bank, debtors and creditors by journal i would not reccomend you do this you should find out what the adjustments were for and adjust via the ledgers.

I tend to post the accountants final adjustments on the first day of the new year anything that was journal'd to the P&L I post straight to 3200 the retained profit.

kind regards
Stuart

• Forum Moderator, South East & Greater London Regional Chairman
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• # 80738
• Mon 12 Mar 2012 01:15 PM

Thanks Denise and Stuart for your help. I will send an email to the accountant to clarify the adjustment.

• Best Regards, Indah.
  
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• # 80757
• Mon 12 Mar 2012 08:00 PM

Poppie said:
 

Always keep at least three current months when doing this.


Kind regards

Denise”

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