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Post Info TOPIC: Sage Line 50
linda19


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Sage Line 50
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I have recently starting using Line 50. I have entered the opening balances for the start of the new year. But is it right that the opening balances in the nominal also go to the suspense account?? Or should i have entered the opening balances through the Journal Tab ?? I am a bit confused. Thanks

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BackOfficeGroup


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Linda

Where did you get the opening balances from? The opening figures should be the BS figures at the end of the previous period, so the suspence account balance should go somewhere else....

P

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linda19


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Thanks for the reply, i got myself completly confused, only to find i had put an incorrect date in to the OB and it went to the sus account. I have corrected it now and it seems to be ok . Thanks  

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Stardoe


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Hi Linda,

If you use the Opening Balance function in Sage to enter your opening balances, the opposite entry goes to the suspense account. When you have entered all the opening balances in this way then the suspense account will be zero.

Pauline

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Pauline
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