Hi … thought this would be simple, I have a trail balance with 6 entries to import as part f my getting started task. only the first 4 are taken in by the import process, anyone got any ideas on why?
The entries are:
1201,Brad Meyer Directors Loan,0,
1201,Ceannard Directors Loan,0,
1201,Jim Hood Directors Loan,0,
1200,Starling Business Account,4346.81,
3000,Opening Bal Equity,1000,
7503,Broadband Expense,,368.27
Well it’s not a trial balance because it doesn’t balance - the total of the debits column must equal the total of the credits column. If that’s all you have from your previous accounts then you’ll have to add a balancing line putting the appropriate amount somewhere like “retained profit”.
Hello @hoodji
There seemed to be a hidden comma in the formatting on the last line causing it to fail
Please be aware this is not a full Trial balance and does not balance and you will need to correct this to import it successfully
Steve,
It’s not a full trial balance because I deleted some lines trying to get it to work, The
The intial trial balance from Quickbooks looked like
,“28 Feb 22”
,“Debit”,“Credit”
“Brad Meyer Directors Loan”,0.00,""
“Ceannard Directors Loan”,0.00,""
“Jim Hood Directors Loan”,0.00,""
“RBS Business Account”,4346.81,""
“Accounts Receivable”,0.00,""
“Accounts Payable”,"",2.00
“VAT Control”,0.00,""
“Opening Bal Equity”,"",1000.00
“Retained Earnings”,"",3713.08
“Software Expense”,368.27,""
“TOTAL”,4715.08,4715.08
I added a column with the quick file ledger codes, but at that point hit some issues, ie there is no obvious ledger code for Accounts Receivable, Accounts payable, or retained earnings
Do I leave these blank? or are there codes I should use, and what lines should I delete?
Thanks for you swift response!
Jim
Hello @hoodji
The corresponding QuickFile codes are shown below
Accounts Receivable = 1100
Accounts payable = 2100
Retained earnings = 3101
I would recommend deleting
,“28 Feb 22”
,“Debit”,“Credit”
and
“TOTAL”,4715.08,4715.08
Thanks for your rapid helpm with this, but there must be something I am missing. I have cleaned up the CSV as suggested and in it’s raw form, it fails to upload after the 4th entry, the Starling Bank amount. I therefore tried adding 0s where a , existed, ie so that there were 4 real values for every row. Still the same result first 4 entries only. the CSV file contains
1201,Brad Meyer Directors Loan,0,0
1201,Ceannard Directors Loan,0,0
1201,Jim Hood Directors Loan,0,0
1200,Starling Business Account,4346.81,0
2100,Accounts Payable,0,2
3000,Opening Bal Equity,0,1000
3101,Retained Earnings,0,3713.08
7503,Broadband Expense,368.27,0
I belive this balances and the ledger codes are correct.
I am wondering what you can spot that;'s wrong and given there are very few numbers, how would I go about manually update the various accounts, if I can’t get the import to work.
Thanks
Jim
A trial balance import is nothing more than a journal, so if you can’t get it to import then you can just manually enter the journal yourself - journals are under the “reports” menu, which is not particularly intuitive.
It may just be that it doesn’t like the entries that have zero in both columns - does it work if you remove those?
Thanks I will try removing the double zeros and yhen the journal approacj
Ok so emoving the double zeros works.
One last naive question are at bank amounts deemed credits? and the retained earnings debits, or the other way round?
Jim
For bank accounts “debit” means there is money in the bank, “credit” means the account is overdrawn. Yes, this is back to front compared to what you may be used to, this is because the statement you get from your bank is the bank’s view of you, whereas what you put into QuickFile is your view of the bank and therefore the mirror image.
Generally speaking, expenses and assets are debit, income and liabilities are credit.
Thnks,
ood grief … but important … in my case that means the £4k that is in the bank is a debit, and that means in the tial balance column 3 is marked as debits, yes?
Sorry for being pedantic, but I want to get things off and running on the right foot
Jim
Yes, 1200 (asset) and 7503 (expense) are debits, 2100 (liability) and the 3xxx capital accounts are credits.
Ok Done … thanks for your help
Jim
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