Sage Instant Accounts

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Having done the year end procedure, the balances did not clear.  I took a back up so have restored and can perform the year end again. Where did I go wrong?

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Scalloway Castle
By scalloway
16th Mar 2014 12:02

What do you mean?

Which balances did not clear?

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By Viv100
16th Mar 2014 13:12

Balance sheet codes?

The balance sheet nominal codes (0010 - 3999 on a standard chart of accounts) will not clear to zero.

Only the P&L nominal account codes will clear to zero (4000+ on a standard chart of accounts)

 

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Replying to Di:
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By Lijach
16th Mar 2014 22:44

Sage Instant Accounts

The P & L nominal accounts didn't clear down.

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By Paul Hawes
17th Mar 2014 10:24

Chart of accounts

Seems like it might be a problem in the chart of accounts (although I don't know how or why), i.e. the profit and loss items are considered balance sheet items. You can check this by going to the nominal ledger -> chart of accounts. 

Unless I have just missed the most obvious answer, which is that you have entries after the year end which will remain in the profit and loss accounts after running the year end.

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