Help on PLC reconciliation

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Can some one confirm with me the closing fig from the following, when doing a creditors t-account.
Opening bal - 372193.49
Invoices from suppliers - 34121.04
Return invoices - 461.22
Money paid to suppliers - 34210

like to know which goes to dr and cr side. Is this right, what Ive done?
Op bal - cr
Invoices from suppliers - cr
Return invoices - dr
Money paid to suppliers - dr
i came up with 36841.23 as closing bal.

Also what goes on cr besides opening bal and to work out purchases, please let me know.
thanks
Anjali

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Help on PLC reconciliation

    I get 372193.49 cr
    34121.04 cr
    total cr 406314.53

    461.22 dr
    34210 dr
    total dr 34671.22

    Balance cf 371643.31

    dr and cr same as you but different balance but ive just scribbles it on paper so my brain may have calculated it wrong??
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Help on PLC reconciliation

    Hi Racklen

    I agree with you but thought maybe I was going mad so I didn't reply!

    Think maybe a figure has been written down in error (possibly the opening balance).

    Everything else ok.

    Tracy

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