Struggling to balance out my account to how it is

Accounting
1

I have been using QuickFile for a year or so but not to its full potential. I am a sole trader (childminder) and have been logging payments and tagging to my bank account all year. I have now just started to link bank statements to QuickFile and my account is showing in high figures. How can I set it to the correct figure?

Thanks

2

If you’re just uploading your bank statements, what in particular is making your figures higher than they should be? What figures are you referring to?

3

If you have been manually marking your invoices as paid to the bank then you upload a statement then you have likely doubled up on your figures somewhere.

The trick to sorting this out is “Bank Reconciliation”. This just means you go back to the earliest transactions then hunt down the duplicates and remove them on the bank. Keep iterating forward like this ensuring your running balance is correct until you get it fully up to date.