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Fixed assets missing from balance sheet after running year end on sage

  • 31 posts
  • # 109194

When running the year end on sage for an exercise the balance sheet doesn't show the fixed assets,they havery disappeared.  My tutor can't seem to fathom out why and i'very sent her my back up. I'm going to start from scratch but it's quite disconcerting that I can't get a reason! She said the fixed assets aren't there when she does it either and had never come across it before.  If anyone can shed any light then please do as I can't proceed until I get this sorted and I need everything done by next week.

Thanks

jo

  • Jo Gillespie 

    Thoughts are my own and should not be taken as professional advice. 


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  • 794 posts
  • # 109195

Hi Jo,

When you say they are not there on the balance sheet it sounds like they are not in the Chart of Accounts.

You may have put them in the nominal ledger but this has to match up with COA.

Marilyn


  • A clever person solves a problem.

    A wise person avoids it.

    Albert Enstein


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  • 31 posts
  • # 109196

Hi Marilyn

I used the numbers that are already there so 0030 for off ice equipment and 0050 for motor vehicles. Also they are on the balance sheet before i run the year end which is why this is so frustrating. The audit trail from my postings however do not match the audit trail that my tutor sent over from a reportthat she has that she must use for marking and the reason is that every opening balance I have put in the opposite has been piut to the suspense, so there are extra transactions on my audit trail. Could it be to do with that do you think? I have tried starting from scratch and it is still doing the same thing.

Thank you for replying.

 

Jo

  • Jo Gillespie 

    Thoughts are my own and should not be taken as professional advice. 


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  • 31 posts
  • # 109197

  • Jo Gillespie 

    Thoughts are my own and should not be taken as professional advice. 


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  • 31 posts
  • # 109198

Hi Marilyn

I'm not sure if you can see that properly but that my audit trail after doing the year end and 0030, 0031, 0050, 0051 have basically been cancelled out by the year end ledger transaction. Therefore making the 0 which is why they are not on the balance sheet so why would that be?

Should I be doing something else before I do the year end?

Jo

  • Jo Gillespie 

    Thoughts are my own and should not be taken as professional advice. 


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  • Member PM.Dip
  • 8 posts
  • # 109202

Hi Jo, I have just checked on the audit trail I had after doing a theoretical task, and after the year end it looks like I only have account codes 4000 and up recorded as "Ledger Year End" (apart from the 3200 profit and loss account). 

 

This is purely a guess on my part, but in the chart of accounts, did you input the fixed assets into the profit and loss tab, rather than the balance sheet tab?

 

Kind Regards

Martyn
  • 31 posts
  • # 109211

Hi Martyn

I didnt do that no, I didntthink I had to, my tutor has said i should just carry on with the rest of the unit as she doesnt have an answer as to why this was happening. I will look at what you said and let you know. I need to crack on with the rest of the coiurse though to meet the deadline!!

Thanks for replying.

JO

  • Jo Gillespie 

    Thoughts are my own and should not be taken as professional advice. 


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