Hi have recently started a new job and I am using the Sage Line 50 software. The previous accountant did not reconcile the bank statements correctly. Basically, the bank activity was printed and matched the transactions with the bank statement but it wasn't officially reconciled in Sage. All the transactions are correct but every transation done since 2007 are still present and Year End was completed on 31st May. My question is how can I start a fresh with Sage without wiping all of the information as there are 2 months worth of sales and purchase invoices that are not yet paid so still needed and obviously I need some sort of opening balance for all of the nominal codes to produce an accurate Year End for 2013. I really do not want to have to reenter everything again but I dont believe I can use the clear audit or rebuild features as not one transaction has every been reconciled. Is there a way to do this? Can I reconcile all of the transactions from 2007 and be left with an accurate figure in all of the bank accounts? With the mess it is in now its only use is entering basic information to print basic reports and statements. The figures in the bank accounts etc could not be more wrong and I really need some advise as to how to make it accurate again. PLEASE HELP!!
I'd start at the very beginning and reconcile month by month, checking that each month is correct and complete as far as you can tell before moving on to the next. Backup after each month so that if you mess something up, you have regular and defined points to go back to.
Basically, do what you should be doing for each month, just one after the other.
That makes sense. It sounds like a long process but most definately the most accurate method long term. I shall enquire about retrieving the relevant documents. Thank you for your response.
