[Question] Land & Building

[Zelda Bennett]

What are the transactions in Sage Pastel Partner Version 19 for updating the balance to match the bank balance.

Thank you.

[Andromeda]

Hi Zelda, I assume the bank balance is the mortgage bond balance, a long term loan, whereas land & buildings are a fixed asset.

So perhaps you should change the the liability in your books by crediting the loan with the interest, and debiting finance charges expense account, which actually should agree with the IT3(b). I assume the monthly payments have been accounted for.