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Post Info TOPIC: suspense account
stephen72


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suspense account
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Hi,
      I have just eneterd the opening balances for a customers bank account in sage and have noticed that the same amounts that i have posted to the bank accounts have gone into the suspense account.
what would be the best way to take the amounts out of the susoense account.I have been trying to figure it out but my mind has gone blank.
Thanks

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BackOfficeGroup


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From where did you get the opening balances from? If you have a trial balance, you can work it out from there. If not, then it may well be capital introduced so DR suspence and CR capital account....

P

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stephen72


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Hi thanks for the help.These are the figures for a new client from his balance sheet from last year.i did think about putting them into the capital account but didn't think that would be right

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stephen72


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HI
i did think about putting this in as capital but i didn't think it would be right as it is not money that has been put into the business it is just money that was in the bank already.

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stephen72


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Hi
Sorry for being a numpty but i have just realised the answer is capital.Sometimes you can't see the wood for the trees
sorry

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Magda


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Hello,
Can someone help me with one practice question?
trial balance faild to agree and the difference of 680 was recorded in the credit side of Suspense Acc.I already have found errors and posted them into the journal.

My question:
Where difference as TB shuld exactly be going in CR or DR side of suspence acc?

I just stard with bookkeeping and in my all i.es. difference as TB is always going in the DR side.


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