Can you please tell me how to add an adjusting entry for an opening balance in the below situation:
In year ending 30/04/2015 there were adjustments made to a customer's X account as a lot of receipts had been missed off in that year. It turned out now that part of these adjustments have been wrong which means that the closing balance was too high. This should have been rectified on Sage by the previous bookkeeper but for some reason it hasn't been done. I need to put on credits now so that the balance on customer's account is correct. The adjustments also need to be put to a suspense account so that an accountant can pick this up at the year end.
Would it be correct if I just enter a credit in Customer Ledger on Customer's X account by entering a credit opening balance? In this case, what date shall I use, current date or maybe 01/05/2015 - the first day of the current financial year?
Any suggestions on how to process this adjustments on Sage would be very appreciated.