The Book-keepers Forum (BKF)
The Book-keepers Forum (UK) -> Book-keeping Software -> Opening balances
Post Info TOPIC: Opening balances
Eilef


Senior Member

Status: Offline
Posts: 214
Date:
Opening balances
Permalink Closed

ok I gave tried this in Sage and now VT

partner A introduces £2k into business

made up as follows,

cash £658

office equipment £379

equipment £852

stationary £111

how do I stop the £111 hit the P&L and reducing the balance

 

 



__________________

Kind Regards

 

Eilef Loken MIAB

 
Shamus


Forum Moderator & Expert

Status: Offline
Posts: 11981
Date:
Permalink Closed

Is the stationary brought forwards from a prior period or is it stationary for this period with mid year opening balances?

If from a prior period are you entering your balances for the last day of the prior period or the first day of this period?

Are you using the opening balance contra method of inputting opening balances?

Just between clients so will pick this up on my return.

Shaun.

__________________

Shaun

Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
HendyPhilhendy


Guru

Status: Offline
Posts: 518
Date:
Permalink Closed

If he has purchase £111 of stationery then that is where it should go. If it is a brought forward balance then presumably against retained profits.

__________________

Phil Hendy, The Accountancy Mentor

Are you thinking of setting up your own practice or have you set up and need some help?

If so a mentor may be the way forward - feel free to get in touch and see how I can assist you. 

 
Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.
The Book-keepers Forum (UK) -> Book-keeping Software -> Opening balances
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