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Post Info TOPIC: Business Savings Account


Veteran Member

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Posts: 97
Date:
Business Savings Account


Hello, I am wondering if anyone can help please? I have taken over the accounts for a partnership and they have a bank account and a savings account both in the company name. However in the balance sheet from last year, there is no sign of the saving account. It was a substantial balance of 25000 last year and now 30000. The balance should have been included shouldn't it? I can't think of a reason why it wouldn't be included. Would someone mind verifying this for me please, or by all means correcting me if I am wrong.

Many thanks

Nicola



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Nicola



Guru

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Posts: 1115
Date:

Hi Nicola

Is it a partnership or a Company, you mention both?

If the savings account is in the Company name then yes I would it expect to appear on the BS, can you not trace the double entry transactions back to find out how this has been accounted for, seems strange that the BS would actually balance if no mention of these amounts.



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Doug

These are only my opinions of how I see things and therefore should not be taken as advice



Veteran Member

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Posts: 97
Date:

Hi Doug,

Sorry, it's a partnership. They did have a large capital introduced of 43000, which is more than the bank account, but maybe it's included in that?

Many thanks

Nicola

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Nicola

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