SinghSuperStud

iTrader: (2)

Hi,

just computering my accounts on Sage Line 50. Used it before but an older version many years ago so can't remember unfortunately

Put in my opening customer and supplier balances.

Cleared suspense account, credit and debtor control accounts using journal entries.

Put in my opening balances for my ledger accounts and bank accounts

Sage Line 50 v11 tells me at this stage I shouldn't have a value in my Suspense account when I do a Trial Balance but I do !!! What am I forgetting to do ?!

...or do I continue putting on the accounts with the opening balances and leave the double entries in the suspense account ? Won't that give an incorrect Trial Balance ?

I don't want to do anything until I fix this !

HELP !!

thanks, Jai

Lee247

can you pm me an example, I use line 50. can't promise anything mind but I don't understand why you are getting a suspense balance. any old figures will do, but show me how it looks on your TB.

little miss fire

Hi ya

I use Sage V11 at work (I'm a management accountant) If I can help in any way, PM me. But you should not have a balance in your suspence account!!!! Have you got transactions in your profit & loss NL accounts?

If not the Sage helpdesk number is 0845 111 5555 they are usually very helpful!

lmf

SinghSuperStud

iTrader: (2)

Hi Guys,

thanks for the offer of help - only just got round to retrying it!

Just tried it with one set of figures. Basically, zero opening balances for customer and supplier accounts but opening balances of following:

Telephone £100
Wages £600
Rent £300

All of the above have gone in as Debit obening balances in Sage Line 50. I then checked the Trial Balance report but this shows a suspense account posting equal to the total of the above, namely £1000 !!

I realise this may be due to the fact that i've put zero opening balances in the bank account as the initial funding was from Director's personal account. Do I need to put an opening balance in some form of loan account to show this investment ? This will therefore cancel out the suspence account balance?

apologies for the naive questions but finrst time i've used Sage and had to put in opening balances!

Any help appreciated !

thanks

Jai

SinghSuperStud

iTrader: (2)

ttt

little miss fire

ISN

Have sent you a PM with more questions (sorry!)

lmf