Sage Balancesheet

Sage Balancesheet

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Hi Everybody,

your response would be much apprciated with regards to this problem.

I have done bookkeeping in Sage on Quarterly Accounts , when i finished with last quarter and tried to view Balance sheet for the whole year .I was surprise to see that

Period (i-e last Quarter) Year -to- Date

Balancesheet did not balance by 12.81 Balacesheet Balanced.

If i check balacesheet for the first 3 Quarters together , there is no problem and it balances both as Period and Year to Date.

However, when i check balancesheet for the full year , Period (i-e Last quarter) doest not balance while Year-to-date balance sheet balances.

Where does the problem lie ,should i check the chart of accounts.

Kind Regards

Rehan Arain

Replies (5)

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By yorsolution
11th Feb 2007 12:25

Data check done?
Rehan

I am assuming you have run a data check to ensure there is no corruption of data? If so you'll probably need to return to a back-up and re-enter from that point .

If there is no indication of data corruption try the following:

I certainly think you should check your Chart of Accounts first..

Then check the program dates you have used when entering data. When using Sage (which I only do for clients who already have it and insist on continuing with it for bookkeeping - personally i think it is a bad system) I always change the program date to the last day of the month for which I am entering data as this can affect the period in which it is reflected even though you may have used the correct date as a posting date.

Hope this helps. Do you (or your client if you are using their system) have Sage cover?

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By User deleted
12th Feb 2007 08:14

Fit for Purpose ....
This should not be possible unless the Software House has failed to implement the basic concept of transactions (commit/rollback)

The idea behind transactions is that if one element fails (writing to multiple tables) then the the whole transaction is aborted; thus preventing mis-matched records (out of balance) from being generated - which is what we seem to have here

Presumably Sage does not use this concept - which is why they have functions such as DataCheck & Rebuild.

An answer on transactions from Sage would be welcome - if they have not implemented it then quite frankly this product should not be on the market.

Any Accounts Package that claims to double entry and does not implement transactions to prevent imbalances in the ledgers it is not 'Fit for Purpose'

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By stephenkendrew
12th Feb 2007 09:15

check your chart of accounts
I think you will find that you have used one or more nominal ledger codes that aren't being picked up in the chart of accounts.

Print off a trial balance. Check the difference on your balance sheet and see if there's an amount for this on the trial balance. If you are lucky, there will be and it is likely that this figure is not being picked up in the accounts.

If you are unlucky you will need to check that all the accounts in the trial balance are being picked up in the chart of accounts.

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By derwentdelivers
12th Feb 2007 09:24

SAGE Balance sheet
If you click on COMPANY then COA and edit the chart of accounts that you use there is a CHECK button which tells you where all of the errors are.

I am not exactly sure on why you are printing a quarterly balance sheet, as far as i know SAGE just picks up the movements for the PERIOD balances and the year to date figures will be correct. The PERIOD column can sometimes be interesting reading to see where the major movements on the balance sheet are but the year to date column is the one you need.

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By sjmaccounting
14th Feb 2007 16:35

suspense account?
had a case with a client recently - they had posted an erroneous receipt to suspense (n/code 9999) at end december and refunded in january.

for some reason n/code 9999 was not in the chart of accounts so balance sheet did not balance in december but was then ok in janaury.

unless there are data corruptions then previous posts suggesting you check the chart of accounts seems the most likely solution

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