In this month's "technical tip" we are focusing on where the brought forward balance on a nominal account has come from. Generally speaking on balance sheet accounts this will be the total of the archived transactions on the account:
Gives a net total equal to the brought forward balance:
For Profit and Loss accounts the brought forward balance will normally be 0.00 unless there has been a prior year adjustment made to the account - in which case the brought forward balance will be adjusted for this - to ensure the current balance remains the same:
Before prior year adjustment:
After prior year adjustment:
Report of the month
The report for May is now available. This report lists invoices and credits per supplier.
Each month Sage will provide a "Report of the Month" so it is worth coming back to this page on a regular basis.