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

Join our free Facebook support group for Sage 50 Accounts

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

Join our free Facebook support group for Sage 50 Accounts