Big problems on my balance sheet

Hello.When i visit this page , i set date 30-4-19 but i see on Long Term Liabilities this : 2300 “Loans 13,804.53” .
But this loan is already paid at year 2017 .When i click on button for more details, then opening a page which showing data from year…1900 (!) including this loan because was from 2017 and paid.
Then when i set the correct year 2019 on this page, showing zero loans (and this is correct because i dont have any loans in 2019).
So the balance sheet is totally wrong and showing wrong dates including also amounts from dates out of period 1-5-18 to 30-4-19.Even i set the correct date on page of balance sheet, it shows wrong data to all fields.
For example another field showing my EURO bank account in “Current Liabilities” with a strange negative amount , while all my other bank accounts appears in “Current Assets”.Any solution on this ? Thank you.

Hi @Panos

The reason you see “1900” is just to give you a view of “all-time” data.

Were the repayments tagged to the same nominal code (2300)?

I mean for example.While on trial balance looking for a specific period (2018-2019) , then one of the loans appears there even the loan taken from old years and paid at old year (2017) out of the period i look.
So all the loans will appear there for ever ? Even the period i look is not related with the period of loan? This is the question.So i need to submit these data again to HMRC ? While i submitted them on old accounts ?

It depends. If the loan was paid off against the same nominal code, then it will cancel itself out - which is why I asked about the nominal above.

If you assigned the loan to one nominal and paid it off another, then it’s likely to cause things to be a bit unbalanced.

Thanks for your reply.Take a look to picture.It seems the loan as liability but is paid.I dont have this liability anymore.So it should not appear there right ? Also on previous accounts i see accountant included in liabilities of 2017 .This is why i ask what i do wrong ?

So just to confirm - your repayments, are they tagged to 2300 too?

Hmm i need to check it for sure.Let me see and i let you know .Thanks !

As i see on my bank history payment is tagged by this message “Transaction Tagged
This transaction is tagged to the category Loan Interest Paid Date =04/09/2017.”
What else i should do ? Also as you see in picture appears not only credit but as debit too so it should not appear there because this is old loan.

This is the issue. This is a different nominal code to the 2300 one above.

This post may help. It’s a few years old, but the concept is the same: Accounting for loans - #2 by Glenn

Thank you very much ! I will take a look and return back ! Thanks for your great help Mathew ! :slight_smile:

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Ok i see now.As i see is not possible to delete old payments and to register again as payments to loan bank account.Can i leave as it is , or we have any solution to edit the file ?

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