Client bank account

Hi, I have a current bank account and a separate client bank account where i keep the clients money for rent etc. On the system when I do a profit and loss statement it adds the client money into my profit. Can i stop the client bank account balance showing in the profit?

Hi @Harmony

Just so I know we’re on the same wavelength, can you please clarify what you mean by this? The Profit and Loss statement doesn’t use the amounts from the bank balances and only the Sales and Purchases.

It shows under the Less Expenses: Suspense account with a positive balance which is added to the profit.

Hi @Harmony

The suspense account is anything that’s untagged. Tagging the transactions would likely remove these from 9998 Suspense Account.

When you mention about rent money for clients, are your clients paying you rent, or are you acting as an agent and holding the funds on behalf of your clients?

Thank you I will try tagging them. Yes I am an agent and hold the funds on behalf of the clients.

The amount showing is an opening balance which i cant tag?

Hi @Harmony

When you entered the opening balance, it would have created an opening balance journey (Reports >> Journals). You would just enter the additional lines to this to move the balance to the correct nominal codes.

Thank you that did it.

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