I m experiencing great difficulty posting the opening bank balance on Sage. I have reconciled the the bank account and end up with the following figures.
Bank Statement as of 31/11/09 200,000
Unpresented chq of 47,000
Book balance as of 31/11/09 153,000
We have just switched to Sage, so i am required to enter the opening balances,I really need your help guys, I have had few replies from another forum, and I am even more confused , I know there is a various way of doing that but I just need one that will do the job.
I have found this forum very helpful so far, awaiting your suggestions
Have you switched to Sage from another accounting package or manual system? Do you have a trial balance to work from? If you have a TB I would enter the amount shown on that as the opening balance. If not, I would enter the actual balance from the bank statement at the beginning of the month you are starting at.
Hello vassie. I would ask the same as stardoe do you have an opening Trial Balance to enter onto sage. The Cash book Balance of £ 153,000 is what i would expect to find in the trial balance.
