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Post Info TOPIC: Opening Bank balance and Sage


Member

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Posts: 11
Date:
Opening Bank balance and Sage


Hi everyone,

I m experiencing great difficulty posting the opening bank balance on Sage. I have reconciled the the bank account and end up with the following figures.

Bank Statement as of 31/11/09  200,000 

Unpresented chq of 47,000

Book balance as of 31/11/09 153,000

We have just switched to  Sage, so i am required to enter the opening balances,I really need your help guys, I have had few replies from another forum, and I am even more confused , I know there is a various way of doing that but I just need one that will do the job.

I have found this forum very helpful so far, awaiting your suggestions 


Thank U {'- '} 






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Guru

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Posts: 1470
Date:

Hi there,

Have you switched to Sage from another accounting package or manual system?  Do you have a trial balance to work from?  If you have a TB I would enter the amount shown on that as the opening balance.  If not, I would enter the actual balance from the bank statement at the beginning of the month you are starting at.

Pauline

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Pauline



Veteran Member

Status: Offline
Posts: 88
Date:

Hello vassie. I would ask the same as stardoe do you have an opening Trial Balance to
enter onto sage. The Cash book Balance of £ 153,000 is what i would expect to find in
the trial balance.



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David
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