Journalling in depreciation and corporation tax

Accounting
1

After 11 years of Sage we switched on 1st April to QF. (Highly impressed so far!) Our year end is 31st March. I ran year end in Sage and then simply created opening balances in QF dated 1st April.

About this time of year I’m used to calculating the depreciation and corporation tax (for last year) and then journalling them in. In Sage I used to create a journal dated 31st March to debit P&L and credit Office Equipment Depreciation (0031) and Corporation tax liability (2320). I tried that in QF, but it appears to have been ignored - none of the nominal code balances changed. (I’ve subsequently deleted the journal.)

Having made these journals my brought forward trial balance then matched the balance sheet of our statutory accounts. I’m wondering how to do the same in QF.

Thanks!

2

Where are you checking this? On the balance sheet?

3

Hi Glenn

Thanks for the reply. I had been checking it in the Chart of Accounts.

I’ve added the journal again (again dating it as 31-Mar) and checked again.
The Balance Sheet report is indeed correct, but again the Chart of Accounts didn’t look right. Then I noticed there’s a date range of the CoA report. If I move that back to 29-Mar it looks ok.

Is there any way to get a Trial Balance report based on a particular date?
Thanks!

4

Ok, so I found how to get a trail balance elsewhere in the forum.

5

This topic was automatically closed after 7 days. New replies are no longer allowed.