Question asked by Jenny Carr 10 years ago
Hi, I am entering opening balances and found guidance that advised to use the - icon to denote negative figures, but its not working. I am trying to enter a negative bank balance but it still shows as a DR and means my Dr & Cr totals don't match
I've never had the 'pleasure' of using Sage but were you to enter a one sided journal it would still surely enter the other side automatically? To a suspense account perhaps?
If so, just create a suspense a/c under Settings > Codes > Create and post the other side of the journal there. By the time the whole TB's in it should have mopped itself up - if not you've got a problem obviously.
Best answerHonestly, I never used that getting started wizard. I tend to create invoices to get the trade debtor position right, create bills for the trade creditors then manually journal in pretty much everything else.
Thank you!
Not at all, just hola if you get stuck at all.
02476 980440 or 07850 881086 if easier to quickly chat it through.
I think that's the best way forward. Thank you so much for all your help, its very much appreciated. I shall leave you in peace now. Keep your fingers crossed for me!
If you've got a complete trial balance and you're entering it all in one go it will of course balance.
If you need to enter it piecemeal such as just posting legal fees, then i'd follow my example above using a suspense a/c. As I say, once you've bought everything in and you keep posting the 'missing bits' to the suspense a/c it should zero itself off eventually anyway.
so when you journal in opening balances, for example an expense for legal fees, what do you use as your second journal entry if you do not have information about the original transactions that created the existing balance?
Great thank you, I will give that a go!
Can I ask though if I take over someones accounts and I only have a trial balance to go from, how on earth do I enter opening balances for accounts that do not appear on the on the list of accounts in the getting started tabs?!
Hi Again! Said I would be back! I am still struggling with the o/b journals. in sage I can enter a one line journal entry for opening balances. I thought I could do that in CB by deleting the second row, but when I tried to post the journal I get an error message because my Dr & CR don't balance. so I am confused! because it is an opening balance for a new business from a trial balance, I am not posting a purchase etc as such, I am entering existing balances.
As an example I need to DR £960.00 in Legal fees. how do I create this opening balance?
Lol, already seeing how much Sage overcomplicates everything! CB almost feels too straight forward - I keep checking myself thinking 'that can't be all there is to it?!'
Thanks again for your help, I am sure I will be back on soon!
Ooooooh you're in for a culture shock then....a good one though!! :-)
You know where we are...
Hi Kevin, thank you so much for the quick response. I had been trying to enter opening balances which are one line journal transactions, without deleting the 2nd line so was getting error messages. I have just spotted the delete option though so sorted now!
Thank you so much for your help. I have only used Sage previously for coursework so I am still adapting to CB!
Give me an example of what you need to do and i'll let you know.
Do you happen to have a screenshot of how the opening balances should look perhaps?
Hi Kevin, thank you. I think journals will be easier. How do I create the double entry for opening balances in journals though? I have only really used journals to make alterations etc.
Hi Jenny
I'm sure you'll find it easier to simply journal the majority of the opening balances in using Tools > Journals > Create. That could probably be used for P&L, bank & DLA etc. To create debtors/creditors it's best to re-create the actual invoices/bills.
Hope that makes sense, feel free to look me up and drop me a line if not.
You must 