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Balance Sheet Reporting Errors

Nifty

Since New Year my end of 23/24 balance sheet reports shows incorrect bank account values.

Viz

on 31/12/24 shows correct and reconciled value $128k approx vs $223K approx today.

What has changed?

How do I fix?????

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Balance Sheet

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Accepted answers

Earl_HD

Hi @Nifty,

You can refresh the historical balance by following the steps below:

Go to Accounting >> Chart of Accounts >> Account Opening Balance.
Select an account with a $0 opening balance (note this account).
Enter a $1 opening balance for this account and click OK.
Go back to Accounting >> Chart of Accounts >> Account Opening Balance and remove the $1 balance to make it $0. Click OK.
Run your balance sheet again, and it should now balance.

Additionally, this Help article has detailed information that you might want to review.

Regards,
Earl

All comments

Earl_HD

Hi @Nifty,

You can refresh the historical balance by following the steps below:

Go to Accounting >> Chart of Accounts >> Account Opening Balance.
Select an account with a $0 opening balance (note this account).
Enter a $1 opening balance for this account and click OK.
Go back to Accounting >> Chart of Accounts >> Account Opening Balance and remove the $1 balance to make it $0. Click OK.
Run your balance sheet again, and it should now balance.

Additionally, this Help article has detailed information that you might want to review.

Regards,
Earl

Nifty

Thank you, how do I refresh the opening balances?

Regards Nifty

Shella_A

Hi @Nifty,

To fix this, kindly try refreshing the opening balances. If it's still occurring, you might need to reach out to our live chat agent through our virtual assistant MOCA or submit a support request via MyAccount for possible file repair.

Kind regards,

Shella