Bank Feeds - Credit Card Out of Balance showing is the correct calculated balance

Question

Hi,

Just need help with Bank Feeds. I have been reconciling the credit cards using bank feed and although the calculated balance is showing the correctr amount, the Out of Balance amount is showing the same thing.

Please advise on how we can fix this. I have undo and re-approve all transactions and it is still the same. Thanks. 
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Tracey_H · Answer

Hi @RMartn

The Closing balance in the Bank feeds window comes from your bank so it's not possible to change that from within the software. However, as Bank feeds are only a reconciliation tool you need to make sure the account reconciles in the Reconcile accounts window. If it does you, you can ignore that balance in the Bank feeds window. Once your bank provide a Closing balance the Bank feeds window will update.

Please let me know if you need further help.

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

RMartn · Answer

Hi Tracey,

Thanks for your response.

Although when I hit the reconcile button and manually enter the closing statement balance and reconcile it and then go back to bank feeds again, the out of balance remains the same (whatever the bank statement balance/calculated balance).

The issue is the closing balance is $0.00 which is incorrect, is there anyway it can get fixed?

Thank you.

Tracey_H · Answer

Hi @RMartn

Thanks for your post. The Closing balance is provided by your bank, the Calculated balance is the balance in AccountRight and the out of balance is the difference between those two amounts. As your Closing balance is $0.00 the out of balance will display as $186.61.

Bank feeds is a tool to make reconciliation easier so make sure the account reconciles in the Reconcile accounts window. You can manually enter the closing balance from the bank statement into the Closing Statement balance field.

Please let me know if you need further help.

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.