Brought forward balances on the sales and purchase ledgers


I have just created new client files on both the sales and purchase ledgers with brought forward balances.

However the balances are being included in my sales and cost of sales figures in my chart of accounts.

How do I correct this?



Following journal should help

If opening debtors balance sitting in sales then

Dr 1100 Debtors Control Account
Cr 4000 General Sales

If opening creditors balance sitting in purchases then
Dr 5000 General Purchases
Cr 2100Creditors Control Account

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