Purchase and Sales Ledgers do not balance with Control accounts

[Matt]

Hi,

I’ve been trying to follow a very old thread on this and cannot understand what’s being said.

Neither my Sales Ledger or Purchase Ledger agree with the Balance Sheet accounts - how does this happen and how do I fix this please?

Thank you
Lyndsey

[ian_roberts]

Have you accounted for prepayments? Anything where you’ve paid a supplier or been paid by a customer but not yet received/sent the invoice will count on the relevant control account but not in the sales/purchases total.

The other possibility is to check the date ranges match, the balance sheet shows an all-time figure but you may be looking at invoices just in a certain period so you’d need to adjust for any opening balance on the control accounts at the start of that period.