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Can I make year end adjustments using journals?

Trial Balance Journals

To get your opening balances correct after you have run year end your accountant will often give you a list of journals to complete.  This feature requires you to:-

1. Set up a User Defined Suspense which will be your suspense account that you can alter at will (as opposed to OUR suspense control that only the program itself can alter).

2. Define your retained profit/loss nominal. To set these go to Opening and then Default Nominals ( at the bottom). Once these are set you are ready to do your journal.

In the example below the private element of telephone (Nom 01450)

and domestic use of electricity (Nom 01270)

are journalled to Mr. J Farmer's capital account(Nom 2100)

to produce the trial balance journal below.