Opening Bank Balance on Sage for trading company

bigmuggsy Registered Posts: 92 Regular contributor ⭐
Hi all

Quick one - trading company adopts Sage for its book keeping from 01/04/2012, how would the opening bank balance be entered giving that its not zero (376.18 overdrawn)? I assume I wouldn't have to reconcile the whole prior year, therefore would it simply carry forward as a creditor?

All help appreciated.



  • coojee
    coojee Registered Posts: 794 Epic contributor 🐘
    You'll need to enter all the opening balances of which the bank account will be one of them. When you do that all the DR's will equal the CR's so there's no "other side" to enter if that's what concerning you, ie you don't need to DR something and CR bank. For the bank account and the debtors and creditors you need to enter the balances directly into the record rather than via a journal.
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