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Balance sheet doesn't balance, Trial Balance OK.
Hi there,
I've probably done something strange here. I'm seeing my Trial Balance balancing correctly, but the balance sheet is out by £160.89. Is this something I need to talk to my accountant about, or is FAC up to something strange?
I don't know if this is relevant, but my year end is at the end of this month (November). The site advises me to check my opening balances, but I started fresh with zero in everything (ie. all opening balances are 0).
Thanks!
I've probably done something strange here. I'm seeing my Trial Balance balancing correctly, but the balance sheet is out by £160.89. Is this something I need to talk to my accountant about, or is FAC up to something strange?
I don't know if this is relevant, but my year end is at the end of this month (November). The site advises me to check my opening balances, but I started fresh with zero in everything (ie. all opening balances are 0).
Thanks!
I’m confused, but it's probably my fault
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Inappropriate?Hm - I wonder if this is relevant.
Back in February, I bought a printer for £160.99. I put this in with a 3 year asset life, so there is a depreciation charge of £53.66.
In September, that printer broke, and was returned for a refund. When that refund went through, it appeared (ugh, I've just noticed - for £160.98!) and went under 604: Disposal of Capital Asset. Was this the right thing to do? If not, what should I do to correct this? (Or, is this completely unrelated?)
I’m confused
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Inappropriate?Have you looked at your Opening Trial Balance? Does it balance? -
Inappropriate?Hi Stuart, thanks for replying. My opening trial balance does indeed balance (£0 in debit and credit), as does 'Now' and 'End of period' (which are the same thing, since I'm in my first period I guess.)
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Inappropriate?Opening balances are a nightmare! I would ask your accountant or, if you want, I'll have a quick look at it for you. -
Inappropriate?Happy for you to take a quick look Stuart - do you have a private email I can contact you on to give you access?
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Inappropriate?stuart at 3ca (dot) co (dot) uk
