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Post Info TOPIC: Strange balancing error
Leger


Master Book-keeper

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Strange balancing error
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First of all my apologies, I haven't posted the fun page for quite a while as my weekends just seem to fly by.  I'm away this weekend but will try to post something Sunday night/Monday morning.

 

I have a copy of last years pl and balance sheet, which I have inputted into taxfiler but can't get the balance sheet and shareholders funds to balance.  Can anyone tell me where I've gone wrong?

Tax filer is showing pl 7123 (correct)  balance sheet is showing 2070 capital (correct) but showing 2006 as the shareholders funds.  The b/f figure is £3782.  That tallies with the 2019 balance sheet.

This is the TB

 

Turnover - Sales 37483
COS and expenses30160 
Taxation - Corporation tax 1535 
Plant & machinery - Cost - b/fwd872 
Plant & machinery - Depn - b/fwd 303
Motor vehicles - Cost - b/fwd4450 
Motor vehicles - Depn - b/fwd 1946
Debtors less than 1 year - Accrued income and prepayments199 
Debtors less than 1 year - Other debtors11600 
Creditors less than 1 year - total 11282
Creditors greater than 1 year - Bank loans 1292
Creditors greater than 1 year - Accruals 228
Profit and loss account - Brought forward3782 
   
   
   
 5259852534

 

 



-- Edited by Leger on Friday 19th of November 2021 06:45:46 PM

__________________

John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
Shamus


Forum Moderator & Expert

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Hi John,

what about Share capital? I assume that the bank / cash / directors account figures are subsumed within debtors / creditors?

£64 (or £32 on the wrong side) doesn't sound a lot but I remember the first time I used VT I was out by £9 and took me a week to track where it had gone to... Which included scrapping everything and restarting from scratch... Well, its one way to learn new software!

Sorry matey. Without sitting there doing myself with al the figures to hand I'm of no real use to you and the above suggestions are just the first things that I would check... Actually, when the number is £32 the firt thing I would be looking for would be an annual company credit card service charge. But in this instance you are saying that you are attempting to enter figures that previously balanced?

Sorry. not a lot of help to you.

good luck tracking it,

Shaun.



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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.
Leger


Master Book-keeper

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Posts: 3904
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Thanks anyway Shaun.  Yes, it's the previous accounts which the previous Accountant sent to the client before they were submitted, which I didn't do.   I'm assuming the share capital is in the figures, I'm kicking myself now because I should have asked for the full breakdown of debtors and creditors.  I'm going to break them down best I can tomorrow, fortunately they aren't complicated. 

As an aside I was in your area today, purely by accident.  I've been to Shrewsbury for the weekend with a friend and her family and on the way back the satnav took me South instead of North.  Thinking it was an easier way to get to the M6 North I followed it and ended up on the M6 toll road!!



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John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
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