I’ve been using quickfile to manage existing accounts for a scout group and when I transferred the accounts to quickfile I entered the opening balances for each account.
In the balance sheet these opening balances show up as manual adjustments under liabilities therefore result in an incorrect net current assets.
How can I add these opening balances as an actual asset to get a true reflection of total capital & reserves ?
An opening balance is generally made up of a journal, which can be found in Reports >> Journals.
What you would need to do is journal the opening balance to reflect where it came from (e.g. a loan, start up funding, profit from previous years etc.). If they are just retained profit from previous years, this would generally be 3101 Retained Profit & Undistributed Reserves.
What was used before you used QuickFile? Did you use another accounting package for example?