HOME / COMMUNITY Switch to knowledge base

Start to reconcile old account - advice please


#1

Hi there,

I’ve used QF for a number of years and have performed reconciliation outside of the system until now. I have totally ignored the ability to do this in QF so today I cleaned up the virtual accounts by transferring to the current account. A result of this is £0 GoCardless (correct and ready for the next batch of payments), £0 cash (correct), and a large balance on the current account which is not correct. So I’m looking for the cleanest way to clear this down to the correct balance and start reconciling using QF please.

When I activate bank feeds, is there a date from which I can select to import (I don’t need/want to do historical reconciliation).

Should I simply take the difference between the true current account balance and the inflated current account balance in QF to the proprietor’s drawings account and continue from there (assuming the the answer to the previous question is ‘yes’?)

Thanks in advance


#2

Hi @zappdance

The best way to ensure the balance is correct would be to reconcile it and find out where the errors are.

We do have a recon tool which you can use to match QuickFile against a statement: Reconciling your bank

It depends on the feed. Open Banking feeds (currently in testing) allow up to 1 month of transactions to be imported. Yodlee feeds vary depending on the bank.


closed #3

This topic was automatically closed after 7 days. New replies are no longer allowed.