I am working with a company as an IT contractor ( I'm AATQB and studying L4 ) and they are moving to Sage 50 from a bespoke system
at year end, i sugested we start entering sales/purchases and when the accountants get the final figures, enter the OB. we then enetered all the sales OB from the old system
it seems that someone went onto the old system and payed ALL the outstanding purchase invoices, they did that 3 days after the ear end.
my question is... How do i get the bank rec to work in Sage, I have transactions on the statement that are in the CB of the old system and will become part of the opening balance of the bank nominal i presume via journals
I have no opening balance on the Bank Nominal so the bank rec will not reconcile.
can i just enter an opening balance from the statement to NC 1200?
Am i overthinking this, or missing something???
the accountanats are less than helpful. they just say, 'we will sort it out later' or other one sentence platitudes.
any advice on either how to sort Sage, or how to deal with the Accountants appreciated!
Or this part of your sage developers thing you mention on your profile?
You say you have set up the OB but don't say what date you used. Technically you should have set them using closing ones and entered them ALL from the closing TB from the old system, not just sales and purchase invoices.
I would suggest you restore sage to prior to the invoices being input and start again, but get your Accountant to do the hand holding then.
If you didn't do any backups, then it's a good lesson to do them more regularly(a lot!). So instead you will need to do a rebuild then start again. Or see below re accountant.
The closing balances of the control accounts, including the bank would not just need a lump sum dumping in sage but a breakdown of items outstanding which will enable recconiliations. Your AAtqB studies would've covered that.
It doesn't matter what somebody else did to pay the invoices on the old system after you moved stuff, although I would suggest those errors be reversed as well., as I'm sure the Accountants will want to look at both systems idc.
As a director (owner as well?) of the business just get on the phone to the Accountants and ask them to stop giving you platitudes and assist you properly, although they are probably just thinking the rest sounds like a dogs dinner, so why not just sort the bank Rec out as well, but you are paying them to assist you so insist they assist you.
__________________
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
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