Hi Amanda,

Thanks for using Sage City.

The suspense account is used to balance transactions where uneven debits and credits have been posted. If you have a balance in the suspense account at year end, our advice would be to review the transactions and find an appropriate ledger to journal the entries over to. You can post a journal from the Journals option in Accounting read more >

You may need to check with your accountant if you're unsure about where to move the values. 

Hope this is helpful.

Regards,

Anth

Sage UKI

Thanks Anth.

Yes, I thought that may well be be the case.  They were originally purchase invoices, but i'm not sure why they have gone there?

Hi Amanda,

It'd be difficult to advise on that without looking at your data. So the best advice I could give would be to contact our technical support team here > so they can try and help you understand where the values are coming from.

Otherwise, your Accountant would be the ideal person to get advice from about how to correct this as there are lots of ways to process transactions and they'll be more familiar with your previous processes. 

We'll of course leave this thread open here on City in case any of our other members have any advice for you

Have a great day!

Anth

Sage UKI

Hi Amanda

This type of thing is often down to transactions being coded to suspense as the Sage user doesn't know where to put them or because the defaults in Sage are causing postings to this nominal code and in some cases use of the 'Opening Balance' field.

I'd suggest you look in detail at all the of the postings on your suspense account to establish where they should be moved to (purchase invoices should be posted to the appropriate nominal code heading) and also identify if you have any transactions on there that should have been posted to a Balance Sheet code. You can either do this by looking at the activity, running off a nominal activity report or sending the data into Excel to analyse it.

I'd also recommend you check your brought forward Trial Balance in case anything on there relates to a previous year.

If the entries on the suspense account are re-posted to the correct P&L code (4000-9999, assuming you're using the default nominal setup) then the overall loss figure would remain the same.

I hope this helps as much as it can without seeing the data.

If you need any guidance, feel free to get in touch.

Kind regards

Bec

Managing Director

Sage Accounts Solutions Limited

Training | Consultancy | Support | Software

www.sageaccountssolutions.co.uk

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