I would post the opening debtors balance to sundry debtors. I would then post all sales invoices for the first year, and post any sales receipts I could match up to those, ticking up my bank statements. Hopefully, that would leave some bank receipts unmarked, and these would amount to somewhere near what the opening debtors figure was.
If CIS has been deducted from the receipt, it makes life a bit more difficult, but you could approach each contractor you had an unmarked receipt from to request a breakdown of those receipts. This should then help you tie up your CIS vouchers.
HTH
-- Edited by FoxAccountancyServices on Friday 12th of July 2013 04:30:32 PM
I have just received the opening balances for a client, whom have given me a creditors breakdown and said they have no debtors breakdown it is a rather large sum of £22,168. They said it was broke down by "these are calculated by taking the sales invoices total - less banked - less cis stoppages. equals debtors total."
I am not sure how I am going to post this and it could be that I have been looking at it all for too long (I am trying to do 3 years worth of bookkeeping here) as the only opening balances I obviously have are bank, debtors, creditors, tools and loan. There is no TB (all is in archive which they are unable to access to find this info as this was before they switched over to sage)
I had posted the opening balances creditors and debtors to the control accounts and then the suspense account to clear them down with the individual accounts, then I had the reply they had no debtors breakdown other than my original posting.
They have provided me with a figure of £5,116 for CIS deductions and that was it and I have been working on this set of accounts for so many hours I am getting myself im a tiz :( So should I CR Supsense DR Sales with the invoices on the bank statement?
Your help right now on this hot Friday afternoon is very much appreciated.
That's what I am saying I have DR Suspense Being Debtors OB whilst I was waiting for the breakdown to post to customers individual accounts, but they replied saying they didn't have the debtors breakdown so I currently still have it sat in suspense.
Yes, so I would post Year 1 sales invoices, and match everything I could for year 1. Then I would look at what I had left on the bank statements, to see how it related to suspense balance. Once you have something to work with, I can possibly help more. If you are really lucky, the CIS plus the unmarked bank receipts would be in the region of the £22k..
