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Post Info TOPIC: Sage Suspense account
Rhianrach


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Sage Suspense account
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Does anybody know why when I run the year end in sage instants, it has cleared the suspense account and transferred it to the P+L. I have been assured this shouldn't happen. Would it be something to do with the way the COA is set up or am I going in the totally wrong direction.



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Steve
Robert Pearce


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Yes, it'll be because the suspense account has been included in the profit and loss account section of the chart of accounts.



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Rhianrach


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Thanks Robert I shall see about sorting that tomorrow.

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Steve
Rhianrach


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Now it gives me a partial chart of accounts as I have no section to put the suspense and mis-posting account in. Does any one have any suggestions as to where these accounts could be put. hmm



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Steve
Robert Pearce


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You could show it as a floating nominal account in the current assets and current liabilities sections of the chart of accounts.



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Pearce & Co - Chartered Accountant and Chartered Tax Adviser 

www.pearceandcoaccountants.co.uk

These comments are outline only and are not a substitute for specific professional advice.
Rhianrach


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Thanks again Robert, it does make sense after thinking about it. Thanks again. smile



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Steve
uoti444


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Money that we have in the company financial institution account
Set up another banking consideration as a 'Director - Mortgage Account' and set this to the quantity we owe one of the administrators lient No as Resource and implement the deal against this Invoice in Apply Documents Place.

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Stardoe


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Think we have a spammer Shaun.....I didn't understand a word of that last post! They are on other posts too.

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