Going from manual to computerised

[Meggymoo]

I have switched from doing my books manually to using Sage instant accounts.

To date I have completed the following:

Entered all opening balances for creditors/debtors/bank
Printed off b/f trial balance and current trial balance which were handed to my accountant.
Entered a list of end of year journal entries provided by my accountant.

There is also procedures for reversing the nominal opening balances in preparation for the opening trial balance.
Why would this procedure take place.

[brucedenney]

If you have entered the final TB for the company prior to your year end, then you will need to run a year end in Sage.

The year end journals the balances on all Profit an loss accounts (typically accounts 4000-9999) for last year into retained profit and loss in the balance sheet, this wipes this years profit so that we can see what profit we are making as the year goes by, if you do not do this, then the balances would represent the profit since the business started rather than the profits for the year.

[Meggymoo]

I have not entered a trial balance from the accountant. I presume he will collate the information from last years manual accounts.

[brucedenney]

I presume you do not need to do anything .