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Balance sheet doesn't balance!
Started clean on 8 April - new LLP. The balance sheet is £100 out. The total assets are £100 more than the total owners equity.
Both partners put on £50 capital which shows in their capital opening balances. I also recorded the balance of the two bank accounts as £50 as at 8 May (first statement) - this was the capital put in by each partner.
What have I done wrong?
Both partners put on £50 capital which shows in their capital opening balances. I also recorded the balance of the two bank accounts as £50 as at 8 May (first statement) - this was the capital put in by each partner.
What have I done wrong?
I’m confused
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Inappropriate?@richallum
Why not ask your accountants to sort it out. It should only take a few minutes. -
Inappropriate?Hi Stuart. That's whatI'll do but trying to find out first where I have gone wrong - learn from your own mistakes and all that! -
Inappropriate?Rich, we're checking this out at the moment. Hope to have an answer soon.
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Inappropriate?Rich,
OK, sorry 'bout that.
We've updated the FreeAgent code to ensure that Opening Capital Balances for Partners are included (we'd been overzealous when we removed Employees from having such balances represented).
You should be all a-balance now!
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this answers the question
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EMPLOYEE
