We still come across WARNINGS in Sage Line 50 of
“Sales Aged Balance disagrees with the Debtors Control by ” or “Purchases Aged Balance disagrees with the Creditors Control by ”
What this means is that the Debtors Control Account says you are owed a figure …say …150,000 but the Actual Debtors List says you are owed 151,000. Obviously there is an issue.
You need to investigate this ASAP to ensure everything is balanced and correct and that there are no other issues.
In most cases the above relates to year end journals.
A typical yearend process requires some journals to clear some accounts which might involve writing off a customer balances or deleting customers etc. For some reason Auditor’s become involved in the actual posting of these journals. But Auditors are usually only concerned with total balances and hence post journals to control accounts. However the net result will be that the Control Account will NO LONGER match the list of Debtors and you will now have a WARNING every day as per above.
If you are doing any clean-up work on Debtors or Creditors….it must be at the Customer/Supplier level which will automatically adjust the control account. For yearend journals this makes the process slightly slower….but can still be done quite easily.
So before the Auditors carry out yearend journals will you consider what they are doing and ensure they do NOT amend the Control accounts or if in doubt, ring us first.
A follow on from this is that if you do have differences with your control accounts you can usually go to
Nominal,
Select the control account in dispute,
Then Activity,
At the Top of the screen go to top Left ..Select Custom range,
Then in the middle section
Select Display all Journal CRs and then display all Journal DRs.
If you have the above warnings I am pretty certain that you will see some form of journal that should not be there. You will have to do a reversing journal (with the same date)…..and then do a corresponding entry to the customer/supplier account (with the same date). It can be done….but just proceed slowly and ensure you have done a few back-ups before you start!
Again if you need help in this area then contact us.
Best Regards
Lydia Horan
021 45 44144
Compuland is a long term partner of Microsoft and Sage Software, specialising in Sales,
Installation, Customisation, Training and Support of Office 365 and Sage Software.
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www.compuland.ie or phone 021 4544 144