I started using quickfile and set up an existing BBL. Set up the the loan account with the correct balance and have been accounting for the interest payments correctly. The question is how do I account for the initial entry still in the suspense account?
Hello @scarboroughphone
When you set up any bank account and enter an opening balance the other side of the entry is posted to suspense.
You would need to post a journal from a different nominal account to suspense showing where the money came from to net off in the suspense account.
I would recommend asking your accountant where to do the other posting from if you are unsure as the support team are not registered accountants.
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