The Book-keepers Forum (BKF)

Post Info TOPIC: Year end adjustments


Master Book-keeper

Status: Offline
Posts: 8646
Date:
Year end adjustments
Permalink Closed


Hi

Ive had some adjustments back from an accountant who wants me to key them on the first day of the next accounting year, which Ive done. Everything added up with the journals but now my Directors Bank account is wrong. Its only a small issue but its bugging me. It was £9.50 in credit at the end of the year as I forgot to move it to the DLA.  But then I moved it in March when I did the next lot of the clients books (thought nothing of it so its my own fault!), then did the £9.50 adjustment as requested so now its wrong again! 

I usually do all my adjustments on the last day of the financial year then do the year end process so this seems a bit alien to me.

My question is - how can I check the balances after Ive done the amendments?  I cant seem to get a report out showing these 'start' balances.  Its just out of interest really!!  Im using Sage (stop it Shaun...I can hear you groaning from here biggrin) and its an old one (2008!!)

Happy Sunday folks



__________________

 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position



Veteran Member

Status: Offline
Posts: 50
Date:
Permalink Closed

Hi Joanne

I am guessing that when you adjusted it in March it would have been after the year end? If that is the case, it looks like the accountants had already adjusted for it when they did the accounts and therefore the easiest solution would be for you to reverse your own adjustment.

If your DLA is wrong, there must also be another account that is now wrong because of the double entry necessary, so the above suggestion is the best option to put the two accounts back to how they should be, in my opinion. Not explaining it very well (have had a bang on the head today so not as coherent as I should be) but I hope you get the gist of what I am saying!

Hope that helps.




-- Edited by Dinky on Sunday 21st of September 2014 08:57:38 PM

__________________

Sue 



Master Book-keeper

Status: Offline
Posts: 8646
Date:
Permalink Closed

Hi Sue, you are making complete sense, thank you.

Im also looking to see if there is a report I can get out of Sage which shows Ive keyed everything as per their instructions - to make sure Ive done it correctly and to keep with the adjustments record on case of queries.

__________________

 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position

Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.

Tweet this page Post to Digg Post to Del.icio.us
Members Login
Username 
 
Password 
    Remember Me  
©2007-2024 The Book-keepers Forum (BKF). All Rights Reserved. The Book-keepers Forum (BKF) is a trading division of Bookcert Ltd. Registered in England Company Number 05782923. 2 Laurel House, 1 Station Rd, Worle, Weston-super-Mare, North Somerset, BS22 6AR, United Kingdom. The Book-keepers Forum and BKF are trademarks of Bookcert Ltd. This forum is a discussion forum only. There will usually be more than one opinion to any question and any posting should not be viewed as a definitive solution. No responsibility for loss occasioned to any person acting or refraining from action as a result of any posting on this site is accepted by the contributors or The Book-keepers Forum. In all cases, appropriate professional advice should be sought before making a decision. We reserve the right to remove any postings which are offensive, libellous, self-promoting or engaged in covert marketing. We will not notify users of removals. The views expressed in the forum posts are those of the individual and do not necessary reflect or agree with those of The Book-keepers Forum. Any offensive or unsuitable posts will be removed by the moderators. Any reader of this forum can request for a post to be looked into by sending an email to: bookcertltd@gmail.com.

Privacy & Cookie Policy  About