Suspense Account seems to be huge but why?

[oldcontrary]

Hi Glenn/support

After my accountant did a trial balance, he asked me what the suspense account is. So I checked the help files and found this; How to do 3 months of bookkeeping in 30 minutes

All my bank amounts are tagged, there’s nothing missing apart from a few entries in PayPal which is nothing like the amount showing in my suspense account which happens to be £67,711.31

Yes, there some receipts missing in the purchase ledger but nothing like the amount above.

As far as I can tell the suspense account relates to banking so where does the figure come from?

If I’ve made a gigantic mistake, my apologies, but I can’t see where it’s getting the figure from?

Can someone take a look for me?

Regards

Steve

[QFMathew]

Hi @oldcontrary

When you say your accountant done a trail balance, was one imported into your QuickFile account or generated within QuickFile itself?

I’ve had a quick look at your suspense account and I can see two entries as follows:

This is where your suspense account balance is coming from as the system doesn’t know where these figures came from. What you need to do is journal them to the relevant codes. So for example, if the opening balance for your current account came from an investment, you need to record it as such. Your accountant should be able to help you set these up.