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Thread: Help Re: Pastel Customer Statements & incorrect opening balances.

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    Help Re: Pastel Customer Statements & incorrect opening balances.

    Good afternoon
    I have recently started working on Pastel, so I asked the auditors to send me a list of opening balances that I needed for the take-on. There was an amount for the Debtors Control so I asked them to give me a list of outstanding debtors. Now the problem is the customer statements for 2 clients will not balance because of incorrect opening balances that I received from the auditors.
    I have checked my original cashbooks that I sent to the auditors and the opening balances that they gave me does not match my own records at all I mean there is outstanding balances for clients whose accounts are perfectly up to date. How do I rectify this on Pastel so that when I sent out a statement then only the true outstanding amounts are reflected? If there is a way can someone please give me a step by step.

    Does the fact that my customer opening balances are incorrect mean that my books are totally messed up now?

    Ooo I hope I make sense.
    Thanks
    V

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    Platinum Member Neville Bailey's Avatar
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    You must have received a trial balance from your auditors which I presume you used in order to take on the opening balances on your system.

    Included in the trial balance would be the Customer Control Account, which should agree with the total of the Customer Age Analysis that the auditors sent you.

    If two of the customer balances are not correct, then the Customer Control Account will also not be correct.

    Therefore, one or more other accounts in the trial balance will not be correct (the TB has to balance) - most likely the Sales and/or the Cashbook will be incorrect in the trial balance.

    I suggest that you have a look at these two accounts and see if you agree with their closing balances. It might be that those two customer accounts are wrong due to certain receipts having not been captured prior to year-end, and/or certain customer invoices having not been captured prior to year-end.

    Start off by comparing the closing cashbook balance to your bank statement balance.
    Neville Bailey - Pastel Accounting Consultant and Photographer
    neville@accountingsoftwaresupport.co.za
    www.accountingsoftwaresupport.co.za
    View Neville Bailey Photography

    *** 20% DISCOUNT ON PASTEL XPRESS / PARTNER SOFTWARE UNTIL 15 DECEMBER 2017 ***

    "Give every person more in use value than you take from them in cash value."
    WALLACE WATTLES (1860-1911)

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    Thank you Neville, All that I got from the auditors were the annual Financial statements for Dec 2010, Trail balance and the opening balances. I never got a customer age analysis.
    I checked in my own records and bankstatements and Client A had no outstanding balance as at 31 Dec 2010 and the opening balance that I got from the auditors was paid in November already and all invoices thereafter was paid before end December. Client B had an opening balance but it is double the amount that was outstanding as at 31 Dec.
    Now what - Please advise.
    Million Tx. V

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    Platinum Member Neville Bailey's Avatar
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    Have you compared the cashbook balances between the auditors trial balance and your records yet?
    Neville Bailey - Pastel Accounting Consultant and Photographer
    neville@accountingsoftwaresupport.co.za
    www.accountingsoftwaresupport.co.za
    View Neville Bailey Photography

    *** 20% DISCOUNT ON PASTEL XPRESS / PARTNER SOFTWARE UNTIL 15 DECEMBER 2017 ***

    "Give every person more in use value than you take from them in cash value."
    WALLACE WATTLES (1860-1911)

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