Help, accounts not setup correctly.

[crlrsheff]

I have started doing the accounts for someone, on checking through them I have found out that they have been not setup correctly. When the previous bookkeeper transferred the figures to a newer version of Tasbooks he has not entered the opening balance for Director's Loan account and also entered customers/suppliers invoices in the suspense account instead of opening balance. There is still a amount in the suspense account, this is from April 2006.

Could someone please advice me on how I can correct these transactions,as they go back five years.

Thank you, help would be very much appreciated.

[David Richards]

I have started doing the accounts for someone, on checking through them I have found out that they have been not setup correctly. When the previous bookkeeper transferred the figures to a newer version of Tasbooks he has not entered the opening balance for Director's Loan account and also entered customers/suppliers invoices in the suspense account instead of opening balance. There is still a amount in the suspense account, this is from April 2006.

Could someone please advice me on how I can correct these transactions,as they go back five years.I was hoping someone else might answer this, as I can't really help you with this one - as it's more of a accounting question, rather than a TAS one per se.

Once you've worked out what journals you want to post, then I can certainly advise you how to post them. But in a complex situation like this I can't advise you what journals you need to post.

You could try asking on the accounts forum (http://www.ukbusinessforums.co.uk/forums/forumdisplay.php?f=55) how to deal with this from an accounting perspective. Then if you're not sure how to post the journals, I might be able to help.