Opening bank balance - can't create it

[WalkerTim]

Hi

I’m trying to create an opening balance for the start of our financial year (1 May 2019). I do have transactions in there before this date (to create opening balances for suppliers) and QF won’t let me create the bank balance because of these. How do I get around this?

[QFBeth]

Hi @WalkerTim,

An opening balance can only be entered for an Opening Balance, if you have transactions dated before this then it won’t work. There is no work around, you would have to remove the previous transactions or add adjustments for the period in-between

[ian_roberts]

An opening bank balance in QuickFile is nothing more than a journal with the bank account on one side and the suspense account on the other. If I were in your situation I’d just enter a new transaction manually on the bank account for whatever amount you need to get the right balance given your existing supplier transactions, dated on the last day of the previous accounting year, and tag it “something not on the list” to a suitable place (probably somewhere in the capital and reserves section but you’ll need to check with an accountant to be sure).