How do I remove opening balances from Suspense Account?

Not sure how I do this, please could you advise?

Thanks

Hi @ToneMGMT, please see @Glenn’s earlier response to similar inquiry:

http://community.quickfile.co.uk/t/balance-on-suspense-account/4390/2?u=peterk

How do I “Journal out” the opening balance?

From the main Dashboard select Banking>>All bank accounts, next in the Bank Management view choose the bank account the balance of which you want to modify and click on “View” (far right) to get to Bank Statement screen. From here access “Settings”

and find “Modify Opening Balance” link in the lower portion of the settings screen:

The link will take you to the respective “Opening Balance Entry” journal where you can modify the journal.

When I delete all journals it makes the balance on the account incorrect

You need to modify the journal rather than delete it.

How the opposing entry on a bank opening balance should be journalled depends on what originally accounted for that balance, it could be a mix of sales income, capital introduced, prepayment.

It’s probably something your accountant will be able to assist you with, normally you would pull this from your trial balance when you moved your accounts to QuickFile. If you can get a TB from your old accounting software this would explain where you can journal the 9998 balance to.