Hi
I have just installed and started using sage line 50.
I entered the opening bank balance using the new account option under bank in sage but the opening balance is being credited against suspense account, which is outside the Nominal code of IS and BS.
Please advice how do i rectify it and also advice the correct procedure for entering the opening bank balance so that similar mistake is not made in the future.
Thanking you for your help.
Pnp
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Sage Line (opn bank balance)
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brucedenney
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- Joined: 28 Feb 2006, 09:56
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Re: Sage Line (opn bank balance)
You can journal the opening balance to where ever you would like it from suspense.
You should also include the suspense account in your chart of accounts.
You should also include the suspense account in your chart of accounts.
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