Splitting books by bank account for Auditors

Hi, our bank accounts changed during the year which included a trust account was added which is now our main account.

Our auditors now want separate set of books for the current account and a separate set of books for the trust account.

All accounting work for the financial year has been completed and year end done.

Is there a easy way of copying a set a books and then deleting transactions not pertaining to that account and reversing opening balances which do not apply to that specific set of books.

Please assist. Greatly appreciated.

Views: 40

Reply to This

Replies to This Discussion

Hi Ian,

Unfortunately there is no easy way to accomplish this, as you cannot delete entries once they're posted.

I can help however as I have have created an Excel-file for myself for management account purposes to extract detail from the TC-database.  This includes individual transactions stored in the db.  From this detail information we should be able to create two sets of trial balances in Excel.

You will then need create two separate sets of books in TC and enter opening balances for each.

Let me know on manahcount%%@%%gmail%%.com  (remove the obvious incorrect chars)

r

You can handle multiple bank accounts in one set of books and pull different reports. Simplest by posting EXCLUSIVELY to different accounts from each batch. One (or two) batches per bank account.

Follow Accounting Made Easy to understand this.

It actually depends on how many bathces he has posted. If there are a few you can unpost, modify and repost to the correct allocations. Works on $ 50 per hour.



Retief Kotze said:

Hi Ian,

Unfortunately there is no easy way to accomplish this, as you cannot delete entries once they're posted.

I can help however as I have have created an Excel-file for myself for management account purposes to extract detail from the TC-database.  This includes individual transactions stored in the db.  From this detail information we should be able to create two sets of trial balances in Excel.

You will then need create two separate sets of books in TC and enter opening balances for each.

Let me know on manahcount%%@%%gmail%%.com  (remove the obvious incorrect chars)

r

Yes, Philip is right: it depends. I haven't used reverse batch posting much, so did'nt consider that as an option. That can work. Then you can create a copy and start the different sets or the normal and 'trust' bank account from there.

Having two sets reduces the chance of posting to incorrect accounts. The 'trust'-account should not form part of your balance-sheet report in any possibility if you want to create true "separation of assets".

At first I too was scared of reversing batches. Once you know that it actually works it opens a whole new world.  Very adictive - dangerous. Use backups. See access control for the audit trail.

Reply to Discussion

RSS

Blog Posts

I have a farm in Africa

Posted by Philip Copeman on April 21, 2018 at 19:27 0 Comments

... and then they want to take the land back without compensation? The idea is preposterous.
Land only has value if you can keep another African off it. Land only has value if you have complete tenure, right down to the freedom to dispose of the asset.
Naive attempts to directly tax the ownership of Land…
Continue

Blockchain Explained

Posted by Philip Copeman on December 30, 2017 at 8:41 1 Comment

Why blockchaine?

You just want to make invoices and collect you money. Why are we so excited about bloackchain here at the TurboCASH Project?

If you are confused by all the terms and don't know what the fuss is about.try this simple explanation in a browser.

https://anders.com/blockchain/…

Continue

The Case against Bitcoin

Posted by Philip Copeman on December 5, 2017 at 16:44 0 Comments

Will blockchain be enduring? – of course. Will Bitcoin be enduring? - not likely.





Unless you are familiar with the terminology of blockchain, having an argument about its future is like arguing with a physicist about the Big Bang. Right now the myopia caused by ignorance centres the crpyto discussion on Bitcoin, store of value and speculative demand. The real delivery of money, the medium of exchange and the unit of account that blockchain brings to anything from IOT…

Continue

Crypto Currencies

Posted by Philip Copeman on October 25, 2017 at 11:53 3 Comments

Economist Dawie Roodt takes the typical neoliberal line on Crypto Currencies. This would be the expected response of an economist who's salary depends on pleasing his big business bosses.

Dawie, Crypto Currencies are not some parochial kids idea, they stand somewhere between a new internet protocol and a digital pitch fork revolution.…

Continue

Events

Videos

  • Add Videos
  • View All

© 2018   Created by Philip Copeman.   Powered by

Badges  |  Report an Issue  |  Terms of Service