Month End Postings

Prepayments

When you post your prepayments during the month end routine, Sage Line 50 automatically makes the following postings:

The first month:

$image\bullet.gif$ Debits the prepayments account with the total amount.

$image\bullet.gif$ Credits the nominal expense account with the total amount.

$image\bullet.gif$ Credits the prepayments account with the monthly amount.

$image\bullet.gif$ Debits the nominal expense account with the monthly amount.

Each month thereafter:

$image\bullet.gif$ Credits the prepayments account with the monthly amount.

$image\bullet.gif$ Debits the nominal expense account with the monthly amount.

Accruals

When you post your accruals during the month end routine, Sage Line 50 automatically makes the following postings:

Each month:

$image\bullet.gif$ Credits the accruals account with the monthly amount.

$image\bullet.gif$ Debits the nominal expense account with the monthly amount.

The last month:

$image\bullet.gif$ Credits the accruals account with the monthly amount.

$image\bullet.gif$ Debits the nominal expense account with the monthly account.

$image\bullet.gif$ Debits the accruals account with the total amount.

$image\bullet.gif$ Credits the nominal expense account with the total amount.

Depreciation

When you post depreciation during the month end routine, Sage Line 50 automatically makes the following postings:

$image\bullet.gif$ Credits the balance sheet depreciation nominal account.

$image\bullet.gif$ Debits the profit and loss depreciation nominal account.

Audit Trail

$image\bullet.gif$ Audit trail is cleared of all paid and reconciled transactions. All unpaid and unreconciled transactions will be brought forward in full.

Customer and Supplier Records

$image\bullet.gif$ The value in the M.T.D field (Month To Date turnover) on all customer and suppliers records is reset to zero.

Products (Financial Controller and Accountant Plus only)

$image\bullet.gif$ The product activity is cleared of all individual transactions on each product record., any adjustments in (AI) and movements in (MI) will be brought forward in full.