adding 5 year old bank account

[emmac]

Hello

I have recently started a new job in which I am trying to 'clean up' a bit of a mess. I have found a bank account that I feel should have been on the system since 2008 !!!

The reason being several suppliers have been paid out of this account and there are still invoices sitting unpaid for quite large amounts.

Can I add this account and process ALL the transactions that have occurred in it despite the fact they are so old. I was thinking of processing everthing using the 1st of the current accounting year.

Any advise would be so very much appreciated.

Thanks

[brucedenney]

You can add it, all the transactions will be in prior years, prior years accounts may have been incorrect as a result of this so you need to raise it with the person submitting accounts.

[emmac]

Thank you so very much for answering me. I have tried looking through the year ends to see if adjustments had been made... if there have been I cannot find them. The bank account on the system is incredibly different from the actual.

I thought if I processed what I find in the first date of this financial year at least I would be able to reconcile things and the year end for this year would be okay.

Knowing I can ask someone is such a relief.

Anne

[brucedenney]

Whomever was running it, could not have been doing bank reconciliation or running it anywhere near well.

I suspect you have a lot of work on your hands.

I would start with the balance sheet, get it right, confirm every number and everything else will have to come into place in the end.