Preparing accounts from scratch

SarahSSarahS Feels At HomeRegistered Posts: 60
I've been asked to prepare a set of sole trader accounts from some basic excel records.

I've done the P&L no problem but I can't get the Balance Sheet to add up for love or money! I need to go back to basics! Can anyone fresh my memory on the best way to tackle this? I've got the drawings figure by listing all the personal expenses and I've also got the profit figure.

I'm happy the current assets are correct also as I've produced control accounts. I've got all the liability figures too and happy they're also correct but something has to be missing? My net assets are £6K adrift to the capital account!

Aaarrgggghhhh!!

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