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How do I reset my balance reset?

Hi all. We have been using Quickfile for around 7 years and are happy with it.

To be honest we have not been using the software correctly and our Quickfile bank balance does reflect our true bank balance. It is way out!. Are we able to reset / refresh our Quickfile balance to reflect our true bank balance to get it all in line once again?

We do not want to remove any client data, invoices etc…simply restart our bank / feed to the correct amount.

Hopefully you can help!

This is double entry book keeping so you need to know where the balance belongs. You can manually create a money in or out transaction to bring the balance into line but you will have to tag that as something.

The simplest is probably just to use “something not on the list” and pick retained profit (meaning the difference is the leftovers from previous years) or drawings if you’re sole trader/partnership (the difference is money you’ve taken out of your business for personal use) but if you know there are more sensible places for it then you should probably use those. For example if you’ve bought capital assets for the business that you didn’t record properly at the time. If unsure ask your accountant.

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