End of year accounts difficulties

[2sheds]

Our accountant is having real difficulty making sense of our accounts for the period 01/04/2023 - 31/03/2024.

Firstly, here what he says about the debtor report of outstanding sales @ 31/03/2024:
*I am struggling to make sense of this. *

*Your attachment is headed “Outstanding sales @ 31/03/24” *

*The “CURRENT STATUS” column A shows most of the items as “PAIDFULL” yet the “PAID” column I shows 0 and the “BALANCE (MC)” column J shows the same amount as the “INVOICE TOTAL” column H! *

*At the bottom of the excel schedule you show “Additional Info” “1100 balance” (this is the code for your debtors control nominal) £125,682.02 when your actual nominal ledger figure at 31/03/24 shows £43,453.39! *

*Something is definitely wrong with the accounting software if it is producing these distorted figures. *

I suggest you contact quickfile to unravel this. I am simply trying to determine the correct trade debtors figure with a supporting schedule.

I agree the report is confusing especially the PAID column which I don’t understand at all.

Secondly, he says:
I am unable to tie up the position relating to the trade debtors at 31/3/24. Your nominal ledger shows net sales of £969,286 (Code 4000). This agrees with the individual sales items you have posted to the ledger. However, the VAT returns you submitted during the year show total sales of £1,008,861 which is a difference of £39,575. Something is definitely wrong because your nominal ledger debtor control account (code 1100) is showing a credit of £43,453 instead of a debit and the receipts into the bank during the year total £1,013,811.

Please can anyone shed some light on what’s behind these issues or a solution. Thanks

[QFMathew]

Hi @2sheds

@2sheds

*The “CURRENT STATUS” column A shows most of the items as “PAIDFULL” yet the “PAID” column I shows 0 and the “BALANCE (MC)” column J shows the same amount as the “INVOICE TOTAL” column H! *

“Current Status” refers to the status as of the date of the export, compared to “PAID” and “BALANCE (MC)” referring to the status as of the date of the report.

For example, let’s say I have an invoice that was raised 1st October and paid 2nd November. If I run the report today (6th November) as of 31st October, this invoice would show CURRENT STATUS of PAIDFULL, but will show 0.00 in the PAID column.

@2sheds

*At the bottom of the excel schedule you show “Additional Info” “1100 balance” (this is the code for your debtors control nominal) £125,682.02 when your actual nominal ledger figure at 31/03/24 shows £43,453.39! *

There could be something in your figures which is causing this, so I will drop you a message to investigate further.