Take on balances

[amosmatete]

Good day,

Can someone please help me. How do I capture take on balances for the following accounts from the trial balance:
Drawings
Returns Inwards
Returns Outwards
Prepayments
Accruals
Opening stock
Provision for Bad Debts
Provision for Depreciation

[ulbricht]

Hi Amos

You first have to create take on suspense accounts.

eg: Main Account : 9999 (Take-On Suspense Account)
Sub Account : 9999\001 (GL Take-On Suspense Account)
Sub Account : 9999\005 (Cashbooks Take-On Suspense Account)
Sub Account : 9999\010 (Inventory Take-On Suspense Account)
Sub Account : 9999\015 (Debtors Take-On Suspense Account)
Sub Account : 9999\020 (Creditors Take-On Suspense Account)


Use GL journals to take on P/L and Balance Sheet items using 9999\001 as contra account

Use Cash Book Batches to take on Cashbooks using 9999\005 as contra account

Use Inventory journals to take on Stock items using 9999\010 as contra account

Use Debtors journals to take on Customers using 9999\015 as contra account

Use Creditors journals to take on Suppliers using 9999\020 as contra account

9999 should come to zero at the end of the procedure if you take on a balancing TB

[amosmatete]

Thank you so much Ulbricht.