Hello Im new here. I just conncected my bank but forgot to add a starting balance at the beginning, now when I go to add my current balance it won’t let me, so does the balance added need to be the balance before any transactions were added?, my transcations go back to Dec 20th, do I need to add the balance as it was on Dec 20th?
Hello @Chloe44
You can enter an opening balance on the bank account in the bank account settings like in the example below.
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Is the banks opening balance when the company started or was the money transfer in from elsewhere?
If it was from elsewhere you can enter a new transaction as of Dec 20th and tag it as a transfer from where it came from.
If it was the date the company started, have you entered any other opening balances?
Ah thanks so much! I’m transferring from somewhere else so do I ust need to work out the balance as of 20th Dec and add that into opening balance box?, I need to upload bank statements from before then though I want to go back to April 2023 is that possible? all the best , Lucy
Hello @Chloe44
Generally when you transfer from one system to another you would choose a date and enter your full trial balance figures (which includes the bank balance) as of that date.
So in your case it sounds like you may need to do this as of April 2023.
Please be aware that the support team are not registered accountants, you may wish to speak to yours for advice on what’s best for your case.
Thanks so much for all you help
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