Accounts Balance totals not adding up correctly

Support
1

Hi,

I am just learning quick file and have taken a download of transactions from my bank and tagged them.

However, during the experimenting, I messed a couple of entries up so deleted them, and manually re-entered them.

In doing so, the account balance is now showing incorrectly.

Eg Opening balance = £0

Deposit £100, Balance £100
Withdrawal £25, Balance £75.01 (not £75 as it should be)
Deposit £4000,
Withdrawal £1500, Balance £2575.01 not £2525 as it should be.

Is this because I have messed with the entries or is there an issue?

All support and suggestions gratefully received.

Many thanks
Ian

2

Hi Ian

I’ll happily take a look at this for you.

Can you confirm the last 4 digits of your account number please, and also which back account your having the issue with (name or the number from the web address).

3

Hi,

Many thanks - the last four digits are 4948 and it is the current account.

I think I have found the problem in that it is the date I set the opening balance to (£0.01) which was after transactions were started.

It is on my current account if you would like to take a look?

I think I would have spotted it sooner (it was late whilst I was doing it!!) if you could set an opening balance to £0 (ie when you open an account) - I have made some misc entries to “neaten” it up for me while I sort myself out!

:slight_smile:

Many thanks
Ian

4

Hi @Easysteam

Having transactions before the opening balance could throw it off a little bit.

You don’t need to enter an opening balance if you’d prefer, you can just have it start from 0.00 and go from there.

I can’t see any issues now on the account - am I right in thinking you’ve sorted this now?

5

Hi Matt,

Yes thankyou all seems fine now - if the opening balance is left blank, then it defaults to zero?

Many thanks for such a prompt response

Best Regards
Ian

6

If you don’t have an opening balance, don’t tick the “I have an opening balance” box.

7

Hi,

Obvious - Doh!

Thank you :slight_smile:

8

Although in my defence, now that it is set up, I can’t see my to change that.

2048×1536 176 KB

However, I have recovered from my stupidity!

Thanks for your help

9

See the “Modify Opening Balance” link…

When you set an opening balance it creates a journal for you, the journal allows you then to split the other balancing entries as you wish (by default it’s set to Suspense - 9998).

To remove the bank opening balance entirely you just need to delete the journal.

10

Hi Glenn,

Brilliant, many thanks :grinning:

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