I am inputting some accounts onto a CT600 and I'm struggling.
I've done the p&l -27114
Ive done the balance sheet -32635
The capital and reserves show called up share capital £1 and profit and loss -27114 giving me -27113
This then gives the following error
X ERROR:The balance sheet does not tally. Shareholders funds must equal the total net assets (liabilities). Please check your figures and correct your entries as necessary
The sage balance sheet total assets less total liabilities -32,635 and Capital and reserves show
Share Capital -1 Reserves -5456 (last years loss) P&L Account -27114 Prev year adjustment -64
Total -32635
I know I'm out by the previous years adjustment (I've looked for that entry on the accounts and cant find it) but I'm thinking I'm also out by the reserves as well.
On the CT600 should total shareholder funds be showing -32635 (I'm thinking it should) and how do I get that figure correct.
Last year (their first) looked very straight forward on the CT600 P&L -5457 Balance sheet -5456 | Called up share capital 1 P&L -5457 Shareholder funds -5456
-- Edited by 111 Bookkeeping and Payroll on Thursday 9th of October 2014 05:12:43 PM
The prev year adjustment could be items incorrectly dated after last year's accounts were ruled off at a loss of 5456 in which case the P&L account for this year should actually read -27178.
Regards,
P.S. I don't have a CT600 handy at the moment but I think they describe the retained earnings total as "Profit and Loss account" or something. So the figure there should also include the 5456 loss from last year.
-- Edited by bro0010 on Thursday 9th of October 2014 05:54:41 PM
Either that or the client (a friend of mine) has adding something late after I closed the accounts last year, although I'm going with your theory.
I did have a look for it but other than it telling me it was labour I can't trace it, I've looked at the direct costs in the nominal codes report and I can't spot it.
P.S. I don't have a CT600 handy at the moment but I think they describe the retained earnings total as "Profit and Loss account" or something. So the figure there should also include the 5456 loss from last year.
Bingo, it does indeed, thank you. I just need to find that £64 now.
Try looking at transactions entered after the roll-forward date with transaction dates before the year end. Use the Audit Trail report with transaction dates before the year end and transaction numbers later than the last roll-forward journal transaction number.
Regards,
-- Edited by bro0010 on Thursday 9th of October 2014 06:43:56 PM
