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Post Info TOPIC: Sage 50
jazzyjoanne


Newbie

Status: Offline
Posts: 4
Date:
Sage 50
Permalink Closed

Hi

I am very confused just trying to enter opening balances on Sage for the bank accounts and it is now showing a credit it on suspense for all 3 accounts, I've read a few posts that say to raise journals and I need to know what journal to raise to clear the suspense account?

Can anyone help me please?

Thanks

JO

 

 

 



__________________
MarkS


Expert

Status: Offline
Posts: 1501
Date:
Permalink Closed

Hi Jo

If you have opening balances you should be posting the opening trial balance on.

I assume you have entered the bank balances though the O/B option in the nominal account but in order for the accounts to balance a Cr will automatically be posted to the suspense account.

When you post the opening trial balance you should post the bank balances to the suspense account to clear the credits.

Hopefully the above makes sense.

Regards

MarkS



__________________

Mark Stewart CA

http://stewartaccounting.co.uk/

Providing accounting, bookkeeping, payroll and tax services to small and medium sized businesses across Central Scotland and beyond.
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