Closing/opening balances

Narellecables

Hi All,

 

Is there any way to know why my closing balance on my 2021 FY does not transfer over to become the opening balance on my 2022 FY?

I have had to do some adjustments to certain transactions in previous FYs and then reversed them but now my closing and opening balances doe not match up.

 

TIA

Princess_R

Hi @Narellecables,

 

Totally, this can happen. Opening/closing balances might not add up if something from a closed year gets edited or reversed, a journal hits the wrong side, or year‑end adjustments don’t post like they should. You’ll want to be extra careful when reversing or changing anything in a previous FYs. 

 

To sort it out, figure out which account is off by comparing your reports, scan journals around year‑end, and check any opening balance adjustments. I’ve got this post with steps to refresh historical balances, but it’s just one part of the checks to run. If it’s still not lining up, best move is to reach out to our support team so we can take a look with you. You can use any of the support options on our website, whatever’s easiest.

 

Cheers,

Princess