Hi Everyone I am new guy for this forum and also Bookkeeping and accountancy industry. And I will be very grateful for your help. My question is; I have to post opening balances for nominal accounts on sage instant account plus program and I could not work it out what is the corresponding nominal account for creditors control account? as a journal entery.
Take a look at the List of Accounts this should give you and indication of what is being used by this version of sage. Have a look under the short term liablities ie it may be termed Trade Creditors or something similar.
Hi and welcome (although this is my first post on here as well !)
Normally you should be posting opening balances from a Trial Balance supplied by your accountant. When doing it this way all the opposite sides of the entries go to the Suspense Account and when you have finished posting all the entries the Suspense Account should be zero.
Do you have a figure for your creditors' control account that you are trying to post as a journal entry? Is that what you mean?
Hi I like to thank everyone for spearing time and effort to answer my query. After a long thinking (for a wholle day) I had resolve the problem. My intention was prepare the balance sheet. Stardoe you are right I have to get all the information from trial balance which suppose to prepared by my previous acountant but because it is a small business and balance sheet not required by HMRC she never done it before.
