The profit and loss report shows the opening balance of the Directors Loan Account as an expense (9998 Suspense Accnt). This cant be right?? How do I delete that entry or can Quickfile correct their P&L Report format ?
If you set an opening balance for a bank account QuickFile puts the contra entry on the suspense account because the system has no way to know where the funds came from (or went to, if the opening balance is overdrawn). It’s up to you to create a journal to reallocate the suspense balance to the right place - only you can know where that is.