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Post Info TOPIC: Starting Sage help
Ionah


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Starting Sage help
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Hi

I have recently started looking after the books for a small company.  They have used  collection of spreadsheets to do their books in the past and I am keen to move them onto sage.

Their year end is 31 May 2011.  Their accountant has the spreadsheets and I have asked for a trial balance/ opening balances, but I don't think that they are coming anytime soon!  So - can I start Sage and put in the opening balances afterwards?  If I can - how do I do this?  Any help or advice would be great.  Many thanks.



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Anderson Accountancy


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Hi Ionah,
Welcome to the forum.

I haven't used sage must (prefer Quickbooks) but any software worth its salt would allow for opening balances to be entered after current year transactions.

Have you sent professional clearance letter to the prior accountants? Unless there are fees outstanding, the prior accountant should release the information in a timely manner. Although, it should be noted that some accountants view the creation of spreadsheets to belong to them and not the client - I had this recently and actually threatened Court action against them (as well as reporting to ICAEW), they did relinquish then :)

If your clients year end is May, you have until February next year to file. Just remember to keep your client updated of events so you promote good service.

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David P Anderson AFA, FFTA

Anderson Accountancy

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Ionah


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Hi David

Thank you for the reply.  The spreadsheets belong to my client as they were done by his previous bookkeeper - who wasn't a bookkeeper - hence why I am really keen to have the opening balances from the accountant.

I want to start Sage asap as the purchase/sales invoices are piling up!  but I am nervous to start Sage and then have to do it twice...  I am a bit of a Sage fan I am afraid and only used quickbooks years ago.



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gillyfleur


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Yes you can start entering immediately. Make sure you set the correct VAT scheme before you start (so if they are on cash accounting tick the relevant box etc), make sure you start the new year as at 1 June 2011 - and away you go.

When you get to entering the bank payments/receipts enter them as payments on account to the relevant customer/supplier ledger accounts and then once you have the opening balances from the accountant you can go back and allocate

When you receive the trial balance from the previous accountant enter all the balances dated 31 May 2011 so they form the opening balances



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Ionah


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Thanks - that is great.  One last thing.  Once I have the opening balances, do I have to journal these in using suspence accounts etc?

With the trial balance at 31 May - do I then need to enter them all and then close the year down?

Thanks again



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