Sage P&L Help please

[clare92]

Hi, I have just started to use Sage 50 2010, i have noticed the suspense account is showing up on the P&L. There used to be, in previous versions, a tick box option to omit it from the P&L but i cant seem to find it in this version. Can anyone help please?
thanks Clare

[johndon68]

There has never been a tick box specifically to remove the Suspense account from the P&L - if you don't want it to be there, you'd need to edit the Chart of Accounts to move it to the Balance Sheet instead.

John

[clare92]

Ah ok, in what section do you suggest? and would this throw the balance sheet out?
thanks for your reply

[johndon68]

I've always just left it in the P&L to be honest.

Having said that, generally, there shouldn't be a balance on suspense as it's usually used during the error corrections/opening balance process and cleared down as part of that process.

If I had a balance on suspense I'd be looking at why it is there and finding out which nominal code(s) the value should be posted to.

John

[clare92]

the owner of the business used the suspense acc to move a figure in there. He then transferred it back, clearing the suspense, but did it over 12 different monthly dates.
(he paid an insurance invoice in full and posted it, then wanted to spread it monthly! the invoice had been VAT reconciled so he didnt want to delete/credit it)
anyway, the original debit to the suspense is quite large which shows in the June P&L. The year to date figures are correct and the suspense has cleared down but the June P&L looks awful. Any suggestions how to fix it?
thanks

[David Griffiths]

the owner of the business used the suspense acc to move a figure in there. He then transferred it back, clearing the suspense, but did it over 12 different monthly dates.
(he paid an insurance invoice in full and posted it, then wanted to spread it monthly! the invoice had been VAT reconciled so he didnt want to delete/credit it)

That's what the prepayments account is for! Code 1103 or in that area. :)

[clare92]

of course!!!!! So i can just journal the amount out of the suspense and into prepayments?? many thanks