HOME / COMMUNITY Switch to knowledge base

Opening balance from newbie

Hi, Newbie here.

I’m trying to get to grips with the book keeping side of my business and have linked my bank accounts and have tried to enter a starting balance however it won’t let me stating

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

I’ve had Quickfile for some years now and the figures are all over the place due to an x business partner.

Any thoughts please?

Thanks Mark

Hi Mark,
yes, that’s right, the opening balance means the balance on your account on the day when you started to use this account in quickfile. So, if there are transactions on your account before the date you entered for your opening balance then you have to go back to the date before the first transaction shown in quickfile.

If the figures are all over the place, as you said, it is maybe worth to seek professional advice, someone you can look through all this.

Thank you rhc, as the end of year is looming |I’m thinking of closing this Quickfile account or at least suspend it and starting fresh, any thoughts? Thanks Mark

You could also use the same account. Just download/backup your current data and then wipe the account in Account settings>>clear all data. There you can choose what to keep and what to delete. This has the advantage that you can keep your settings and designs.

rhc you are a life saver! what a fantastic solution. Many thanks Mark

This topic was automatically closed after 5 days. New replies are no longer allowed.