Hi
I hope this is not a totally stupid question.
I have entered the opening balances for my debtors and creditors and reversed the entries by journal. I now have a completely clear trial balance. Am I correct in saying that when I now enter my sales ledger control and purchase ledger control balances I will need to include these debtors and creditors figures?
Regards
Robert
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Opening balances
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brucedenney
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Re: Opening balances
The debtors and creditors will "accumulate" as you enter the outstanding transactions, the other side is a 999? account.
I would post all the debtors and creditors and then do an adjusting journal to make the TB in Sage match your previous TB.
I would post all the debtors and creditors and then do an adjusting journal to make the TB in Sage match your previous TB.
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