Suspense Account - Profit & Loss

QPS · 22 October 2015 07:19

Hi All

We’re new to QuickFile and recently submitted our statements and tagged everything up for September including our starting balance in the bank from 01/09.

Now this is showing as a “Suspense Account” at the bottom of our “Less Expenses” making our net profit higher than it should be.

How would i make this a little more accurate?

QPS · 22 October 2015 07:29

Sorry i have solved this one!

Simply drop your opening balance before 1st or get your balance at the end of the day on 31st.

“P&L figures are reported from date x to date y, so why not move the opening balance to before date x and it won’t show on the P&L then?”