Analysed cash book with an opening balance

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Please could someone help!!!!

If an analysed cash book has an opening balance, do you :-

a) Include the opening balance when totalling the columns, if this is the case then the cross cast will not work as the opening balance is not analysed out into any further columns.

or

b) Do you ignore the opening balance when totalling the columns and just include the opening balance when carrying down.


Thank you

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Analysed cash book with an opening balance

    Not sure of your layout but when I have previously set up cash books I have 'totalled' at the end of each month.

    To get the columns to cross cast you need a closing balance which then becomes your opening balance for the next month.

    Hope this helps.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Analysed cash book with an opening balance

    I think I know what you mean

    Yeah you include the opening balance in the total, then the difference between the receipts side and expenditure will be your balance brought down at the end and carried forward at the beginning of the next period (that's assuming EVERYTHING has been included in the cashbook and entered correctly).

    Good luck

    Gem
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Analysed cash book with an opening balance

    Yeah trouble is your errors won't be picked up. I got caught out that way!

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