HELP!!
Our year end is 31st Aug, during the y/e 31/8/12, there was an opening balance of £9 in the bad debt account (8100), there was one invoice written off for £35, and a journal for £113 relating to known bad debts written off the next year. However when I ran the year end process it has posted a journal for £1156 CR to the account. I don’t understand where this amount has come from, as the total amount posted to the account for the year was only £157 DR, please advise.
I am trying to finish off our accounts for y/e 31/8/13 but can’t progress until I understand what is happening.
Please Help!!