I have a balance outstanding on my till sales account but it should show 0. All the transactions are tagged, ho0w do I put through a correction and were do I tag it to please?
Is the opening balance wrong?
Which way is it out? Do you have more or less money than you thought you should have? I had this happen a few times when I had my shop, usually due to the shop assistant making a mistake and giving too much or too little change so the drawer total doesn’t match the sales total. If it was over I’d add the difference to my next daily sales invoice, if under I’d tag it to drawings and take the hit myself (or it might be permissible to tag it to an overheads code of some sort, but I’m not an accountant).
I don’t have an opening balance. How do I add one now the account is open?
Thanks Ian, I’ve got more than I should have.
Hi @Ensign
If you go into the bank account settings you can set the opening balance there
Click on Options in your bank account in question. A little menu opens, click Settings
The Account Setting page will open
Hope this helps
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