Sage Help

bigmuggsy
bigmuggsy Registered Posts: 92 Regular contributor ⭐
in General accounting discussion
Hi

Just took on a new client who uses Sage, have received all the relevant info from the previous accountant.

My question is how do I adjust the opening balances for this year from my clients figures to the closing balances per the accountant from last years accountants. They differ alot.

I'm relatively new to Sage so all help would be much appreciated.

Many thanks

Comments

  • whiterose
    whiterose Registered Posts: 49 Regular contributor ⭐
    Via a journal, assuming that the differences are year-end adjustments.
    Can you isolate what the differences are and how they have come about?
    Am assuming that you have last year's accounts (say to 31st March 09) from the previous accountant and that the year end has been done on your client's Sage (so that it reads 'April 09') bottom right grey toolbar?
    In which case I would pull a transactional nominal activity report for all accounts for the previous year (you can specify the dates) and see where the differences are. Hopefully they are for things like accruals, prepayments, depreciation, and so on.
  • bigmuggsy
    bigmuggsy Registered Posts: 92 Regular contributor ⭐
    Hi

    Thanks very much for your reply.

    Yes, the year end is July 2008 and the previous year end has been done as August 2008 is shown on the bottom right hand side.

    I can isolate the differences, they vary from accruals, prepayments etc. So its simply a case of me going in an adjusting via a journal.

    Would it be possible for you to give me an example of doing this through the program? As I say I'm quite new to it!

    Very much appreciated.
  • whiterose
    whiterose Registered Posts: 49 Regular contributor ⭐
    You would journal eg the depreciation expense account and the b/s account, but reading your other post it seems that this is not a simple problem. Does your client have Sage help? If so I would definately ring them as it would appear there is an issue with the year end here.
  • AK002
    AK002 Registered Posts: 2,492 Beyond epic contributor 🧙‍♂️
    Draw up a standard spreadsheet for Sage opening balanaces.

    6 columns with 3 headings. "Per Sage, Per A/cs, adjustment"

    Under each heading there will be a Dr and a Cr.

    Run the sage b/f trial balance and put them onto the spreadsheet.

    Then get the TB (If possible) from the old accountants (the final a/cs TB) and put that under the relevant headings.

    Then do a formula in the adjustments column to find the difference between the 2 columns and then post the adjustments as a nominal journal dated the YEAR END date ....

    HTH

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