Hi Peeps, I have an opening balance on my DL (company owes me) but when I look at Profit and Loss its in the suspense account and its saying I owe the tax on it, can anyone tell me what to do please?
Hello @JaceyBoy
When you record an opening balance, the other side of the transaction is posted to suspense.
In this case the money left “You” but where did it go into the business?
If it was paid into your business account, did you enter an opening balance on your business account for the same value? (the two would net off in suspense).
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