Hi all

We entered the accountants trial balance for the prior year into sage 50 accounts a while after initial setup. We did follow all the steps in the help documentation for this senario. But we have ended up with a previous year adjustment in the balance sheet.

The picture below is from our brought forward balance sheet. As you can guess the previous year adjustment is matching the P & L account. Did I miss something when I was inputting the trial balance that would result in the previous year adjustment moving up a line to the P&L Account? When I was inputting the accountants trial balance I did not input anything to the Retained Profit (3200) nominal.

I am guessing the previous year adjustment should be in the Prior year P&L account but I am not sure how this can be done. Or is this senario correct and all will be corrected when we run our current financial year year-end? These are partnership accounts and the previous year profits still have to be appropriated to the partners current accounts. But there is nothing in the P&L account yet to appropriate.

The next screenshot below is the Balance sheet for the current financial year, the P&L is right for this year but we are still carrying forward the previous year adjustment.

I would appreciate any feedback, Many Thanks

John