I have started a new file for a new year - January. I entered bills and invoices from December as this was last month of VAT quart. I marked them as reconciled in the register. But they still appear in bank reconciliation. How can I get rid?
Explain how you entered them as normally deposits & payments appear in reconcile not bills & invoices.
Thank you for your post. You have also answered my question. I had written cheques instead of bills! So thank you very much for solving my problem. :-)
Thank you for your post. You have also answered my question. I had written cheques instead of bills! So thank you very much for solving my problem. :-)
I have now entered the bills as 'bills' (and not cheques) which has removed them from my bank reconciliation. However, they now appear as unpaid bills (& also invoices) which is not ideal. Can you advise me how this should be done so that when I do my VAT return in February, it will show the December figures (which are from the last month of last year)? I hope this makes sense. Katie
You have ot pay them off and receive the payments in which means you wil have to enter the bank details and allow for this is teh bank opening balance you took on fo rteh new datafile.
How did you enter your opening balances for your A/p & A/r as they need to be entered relative to the suplier & customer accounts.
Did you take a Tb from the last day of the last year as you need this to take on the date for the new years accounts. If you need information on this let us know its probably not to late to correct.
Thank you for your quick reply. December is a quiet month for me. So just a couple of invoices and about 10 bills. So instead of opening balances, a/p & a/r, I entered the invoices and bills instead. Is it impossible to do it this way?
I'm not sure what TB is. But the bank account had an opening balance and reconciliations work fine.
If I have to do opening balances instead, how does the VAT quarter work (I realise I can do an opening balance for VAT control but what about the rest of the VAT100 report.
Thanks so much
It s ok if there are not to many you can build the accounts from the invoices and bills, What you should enter is all the open items of invoices & bills and the outstnding cheques unpaid by the bank. Receiving the payment and paying bills will build the Vat control account, what ever you do do not post to this account. It will also allow you to reconcile your bank to end of year.
TB is a statement of all the accounts and their balances and is ideal for data take on except for A/p & A/r. where you have to do special types of journal for opening balances or build from the transactions as you are doing.
