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• # 110039
• Tue 25 Aug 2015 06:53 PM

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

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• # 110044
• Tue 25 Aug 2015 08:09 PM

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 

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• # 110052
• Wed 26 Aug 2015 08:36 PM

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

• Carol Saunders
  Lady of Ledger Book Keeping
  Telford, Shropshire

  
  

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• # 110054
• Thu 27 Aug 2015 07:30 AM

Hi Carol

Thank you for replying, will have a look.

Thanks

Vicky

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