I am trying to complete the end of year process for a client. I was given the final adjustments by the client's accountant and have processed them in Sage, however having run the end of year process my opening P&L figure doesn't match the figure given by their accountant.
Can anyone suggest reasons why this might happen and what kind off errors may have occurred, if any?
When did you date it the final adjustment given by the accountant? Did you date it the last day of the year you closed down?
In theory you should have no balance in the profit and loss when you run the brought forward profit and loss account or maybe by "opening P&L figure" you mean the profit and loss reserve figure ie N/C 3200.
Possible reason for the difference could be if you have any adjustments to the debtors and creditors ledger how you have adjusted them.
Difficult to say what the difference and how you would sort without seeing the final signed accounts and the SAGE file.
Personally, if you are struggling to work out how to sort then i would get the accountant to come out and put through the necessary adjustments so the brought forward TBL agrees to the final accounts.
Thanks for the reply Mark. I have passed the brought forward TBL to the accountant for him to review as I have no idea why my P&L balance (3200) doesn't agree with theirs.
If the N/C 3200 doesnt agree and there is no other P&L items on the brought forward TBL then there must be a balance sheet account that is different from the final accounts.
