I’m brand new to Quickfile - and loving it btw!
I’m slowly setting things up and I want to have my current Bank balance showing (without connecting it to any bank for now)
I read in the forum I should insert it as an Opening Balance, which I did.
But now the same figure appears as Suspense Account, when I go to Chart of Nominal Accounts Report.
Can you please help me fix this?
You need to enter the whole opening balance sheet to get rid of suspense account else system will use suspense for 2nd half of entry
Hi and thanks for your input!
How do I do that?
And what even is the “whole opening balance sheet”?
My company has been running for mora than 7 years now, so I just wanted to start things off from today - and choose to ignore the past to keep things simple…
Apologies, but I’m really a total noob here…
Opening balances relate to something. For example if it was a switch from different accounting software and you added a bank opening balance. Then that money came from somewhere. It may have been sales, it could have been retained profit. Until you figure out what that opening balance is made up of it will sit in the suspense account.
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