Bank balance - opening balance

We have started the process of getting our accounts done with quickfile but have discovered a problem with the bank balance on the bank account. If you manually add and subtract values you can confirm the balance is incorrect but it seems the balance is not imported from the csv but actually worked out by QF and it appears to be incorrect! How do we correct this as it affects the end of year balance and the CT due?

Where exactly are you seeing an incorrect balance? Did you set an opening balance for that particular bank account as Quick File won’t import this automatically it will only iterate forward from the OB based on the debits and credits.

Well done Glenn, you are correct it was an opening balance that was throwing the problem. I guess what I did was start the account mid way somewhere with a starting balance and at a later date I seemed to have added earlier transactions making it all go wrong. Thanks again it is now resolved.
Sean

1 Like