I really struggle with accounts but have been lumbered doing something because of illness. Previous years accounts have been prepared on an income and expenditure basis with adjustments for arrears and advancements etc. so there were 2 balances at the end of the year. An actual balance of bank accounts and holdings etc that agreed with the bank reconciliation and another balance which was the total balances at the end of the year (which included a VAT Payment which has not yet been claimed and small advance payment).
I want to convert the accounts back to a straight forward receipts and payments system but I can't get anything to balance. Presumably i should use the actual figure from reconciled accounts that agreed with the bank statements? The reason i say this is that i have tried both ways and i can't figure it out. :-(
I want to convert the accounts back to a straight forward receipts and payments system but I can't get anything to balance. Presumably i should use the actual figure from reconciled accounts that agreed with the bank statements? The reason i say this is that i have tried both ways and i can't figure it out. :-(