Duplication of opening balances

I’ve been using Quickfile for our accounts from 1st April 2014. I used the opening balance feature to enter a journal entry dated 31st March 2014 to show all the items in our balance sheet as of 31st March 2014. This includes a figure in (1100) Debtors Control Account. I also entered opening balances for each individual debtor (as invoices dated 31st March 2014) and this has resulted in a doubling of the Debtors Control Account as of 31st March 2014.

The same thing has happened in the creditors control account.

Please could someone tell me what I’ve done wrong?

Yes if you import a trial balance and create client/supplier records with opening balance figures, that would double up on the debtor and credit control figures. Effectively when you set opening balances on client/supplier entry, this creates an open invoice to capture any pre-existing sales/purchase.

You would need to adjust your opening balance journal accordingly to take this into account.

Thanks Glenn. However if I remove the Debtors Control Account figure from the open balance journal entry then it won’t balance!

You don’t remove it as such you allocated it elsewhere, typically sales.

So you would add 2 extra lines on your journal to Debit debtor control and Credit sales.

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