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Post Info TOPIC: Correcting a Difference between control account adn purchase ledger
Kim61


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Correcting a Difference between control account adn purchase ledger
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I have a difference between my purchase ledger and control account. The difference is historical and although I have gone back I cannot find where it is, but think the ledger is correct. How can I correct this so they balance as they should. Thanks



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K Riley
Cheshire


Master Book-keeper

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So how about an intro - we always ask newbies.

Usual stuff - what prof body do you belong to, do you work for yourself or in a practice/ firm, are you a bookkeeper or accountant, what qualifications, how long in role, where up to in your studies-what exams passed/with what body/in midst of doing, where based, what you did before this role? That sort of thing. Helps get to know you but also how best to pitch answers.

You dont say what software you are using.





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 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
Kim61


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I work for myself, part time as a book keeper. I took my book keeping exams in the early 1980s. I have a small portfolio of local companies, with small turnovers.

Previously I worked for a local company starting in admin and worked up to Finance Manager. After 2 years I decided I wanted more time and control over my time and left to work for myself.

I am not currently a member of any professional body.

I currently use Sage 50, Sage One and Quick books.

 

My query relates to Sage 50

 



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K Riley
Cheshire


Master Book-keeper

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Hi Kim
Welcome.

No idea what happened to your formatting, the print is really small!

Which version of Sage?

I take it you have MLR cover?

So going back on a month by month basis of doing TB/aged creditors list, how far back to you get before you get the darned thing reconcilling to each other? has the data been transferred in from another piece of software? If so and you do a b-fwd report for the very beginning of time on sage, does it all agree?

You say you 'think the ledger is correct' - have you not verified all the balances with all of the suppliers? If not I would do this first anyway and then do the monthly reports back in time as a starting point.

I am presuming you have not ticked the 'inc future trans' box but have ticked the 'excl later pymts' box when ordering your creditor reports.

Also assuming there are absolutely no journal entries in the control account? In fact - Im thinking that maybe there are so try this one first!

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 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
Onion4Sage


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Hi Kim,

I think Joanne has hit it on the head. In my experience such differences generally boil down to journal entries that have been posted to the control account without any Account Reference. So, assuming your purchase ledger control account is nominal code 2100, a good place to start would be to filter your transactions by a combination of nominal code 2100 and transaction types JD and JC. Those will be what makes up your difference.

Hope this helps.

Regards,

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Ian

Ian Brown FCA
Onion Reporting Software Ltd

www.onionrs.co.uk

Sage accounts in Excel. No set-up necessary. Free 30 day trial.
ChrisBolton


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Also run a data check in file maintenance, the data could be corrupt

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