Random amount showing on an inactive Bank account

[TMA1]

Hi I have an amount of $474,277.07 just showed up on our balance sheet during EOFY2021. It was under an inactive bank account which should be zero.

I have somehow fix the problem or thought I did however this has now caused another problem in the historical and opening balance in the balance sheet.

I have checked the transaction report in that bank account and there was no record of any transactions since 2018 when the bank account was closed. It is not a link account of any sort.

What else can I do?

[SamaraM]

Hi @TMA1 

Welcome to the Community Forum. There is a situation that occurs when running the Balance sheet report, where the Net Assets and Total Equity figures don't match and this creates an out of balance. If this is happening and the amount you are seeing in the Historical Balancing is the difference between Net Assets and Total Equity we can refresh the Historical balancing account to fix the out of balance.

To do this:

1. Backup your file before you start 
2. Go to Accounts > Account List 
3. Select an account with a $0 opening balance (note this account)
4. Enter a $1 opening balance for this account > click ok
5. Open the above account again and change the $1 balance to make it $0 > click ok
6. Check the balance sheet to see if the historical account is displaying correctly now

If the report is still not displaying correctly, I recommend clearing the cache files that AccountRight uses which can resolve some odd behaviour in reports: Clearing the AccountRight Cache.

If that does not resolve your issue it may need to be sent in for Datafile Repair. If you could attach the Balance Sheet Report and the last 4 digits of your Serial Number I can look into that for you.

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

[TMA1]

last 4 digit of serial number is 1206

I do not believe the problem is on the balance sheet side. If you look at the screen shot I sent you there is an amount of $474277.06 sitting in this "inactive" bank account where it should be zero. I somehow did something to make it zero and not appear in the balance sheet thus effecting the opening and historical balance in the balance sheet to be out by that amount. 

So the bank account at EOFY 2019 and 2020 was zero but in 2021 it was $474,277.06  but on Balance sheet it says zero. If I go to bank rec it says zero. i go to transactions there are no transactions since 2018. it is not a link account. So I do not understand where this figure is coming from.

If I delete the opening balance amount of $408,265.06 I will still have amount of $66,012.00 sitting there.

[SamaraM]

Hi @TMA1 

Thanks for sending that information through, I agree that it looks like the account mentioned is causing the discrepancy.

This needs to be raised with our Data File Repair team in order to investigate further and repair if required. You should receive an email from them shortly.

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