Linking Bank Account and Opening Balance

Accounting
1

Hi all, I have been manually using quick file for 3 years now and would like to link my bank account at the start of this month.

I have added my bank account and it says the balance is 300k different (I think it is using the manual entries over the years).

I have tried to set the opening balance, but I receive the following message:

“The opening balance could not be saved as there are transactions occuring before the opening balance date you supplied”

Can anyone help?

2

Hi,
If all your entries in your current account are correct and match your books, then I would open a new bank account within quickfile and connect the new account to your bank. Set the opening balance from the day you use the bank feed and that’s it.
Keep the old account as reference for the day when HMRC knocks on your door
Hope this helps

3

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