I am hoping someone can help me, I have been given figures from an excel spreadsheet after i started posting items to the companies new Sage System, i started in Nov 09 and desperatly need to post the opening balances. i now have them and i have hit a snag with the bank balances.
I used the opening balance button on the bank account record and posted as the 31.10.09, but the other side of the journal has gone to the suspense. this may be a very bizarre question, where does the suspense figure get posted to zero that account???
sorry, I don't personally have a definitive answer for you but you could try this link to a SAGE line 50 tutorial that talks about opening balances and suspense accounts :
Sorry that the replies not very good but in the absence of any others it's a starting point.
cheers,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
I would think the easiest way would be to post the other opening balances (excluding the bank balance) through journal entries and you should then end up with a figure which is the remaining bank balance.
You then post the remaining balance to the suspense account and this should zero it out,
Dont panic, as Sage does the double entry for you it will automatically throw everything into the 9998 nominal to balance out the t/b. Just enter another journal to clear down the suspense account & bank balance.
