Ive had some year end adjustments to do from some Accountants who want them keying on 1st day of new financial year, which Ive done. But then I came unstuck!
1) Software warning came up ''Purchase aged balance disagrees with creditors control by £2965.03''
You can see from the adjustments given (below) - this is the first line. How can I get rid of this warning? Is there something else I should be keying?
2) I need to know if there is anything I should be doing during the following year which will clear out certain adjustments.
Eg I know with the accruals that this will be cleared once I key the Accountants invoice/payment. But is there something I need to do to impact (1) above.
Also the VAT adjustments (because moving the figures about as detailed below in the VAT liability account doesnt seem to impact on the VAT return, unless Ive missed something (which no doubt I have!) Should I be keying these with a T1 code rather than T9, which would then put it into the VAT return?
Clients Sage Trial
Sage
Balance at 30.11.13
Adjustments
Nom A/c
Name
Dr
Cr
Dr
Cr
2100
Creditors Control Account
81,399.42
2,965.03
2200
Sales Tax Control Account
442.45
442.45
2201
Purchase Tax Control Account
583.00
583.00
2202
VAT Liability
12,134.98
583.00
442.45
2302
Directors Loan
32,717.86
1.00
374.90
3200
Profit & Loss Account
84,848.22
1,115.40
62,190.23
1001
Stock
59,225.20
2109
Accruals
750.00
3000
Share Capital
1.00
97,566.20
114,559.73
64,332.08
64,341.58
__________________
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
Only thinking about the first line here. If the accountant wants an adjustment to the creditors control account he must have identified which supplier(s) the adjustments relate to. Did you process the adjustment to specific supplier(s)? The warning would seem to suggest not. Maybe re-visit that aspect?
Hi Ian
Thats what I thought - checked suppliers and cant find anything matching (or adding up to that - there arent many so thought it would be easy), then thought I must be wrong cos why wouldnt they say which one needed adjusting. At least I was on the right track with that one. Ive just done a restore until I can get to the bottom of this, phew I took a backup!! The Accountant is away. Thanks for your help with that one Ian.
Anyone any ideas with the VAT adjustments aspect?
__________________
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
Ask the accountant for the supplier listing that supports his revised control account balance when he returns. That should allow you to flush the differences out and you can take it from there.
