Chart of Accounts Balance different to Ending Balance

Hi Guys

I have an account where the balance in the chart of accounts is $1655.40 but if I click on the account and view it's transactions the ending balance is $ 683.11.

The "ending balance" is the correct one.

How do I fix the chart of accounts balance?

Also how could this occur?

Answers

  • Kris_Williams
    Kris_Williams Member Posts: 3,243 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert

    The chart of accounts balance is up till today, what type of account is it. Asset, Liability….?

  • mikelegg
    mikelegg Member Posts: 16

    It's a liability account.

    I think the issue is related to a memorized transaction because the difference matches exactly to the value of the memorized transaction.

  • Kris_Williams
    Kris_Williams Member Posts: 3,243 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert

    Hard to say without seeing it. Check if your balance sheet is showing the correct balance. Is it an account with sub categories?

  • mikelegg
    mikelegg Member Posts: 16
    edited September 2023

    Talking to other staff members, we've had this problem before. It appears to caused by a bug in Reckon so there's probably no solution.

    The underlying cause of the balance disparity is that the supplier card began with a negative balance due to a future memorized transaction payment that was never posted being taken into account when the initial balance was calculated.

    We can see that the supplier card, accounts payments and bank account have no entries related to this transaction, yet the supplier card balance is negative and Reckon thinks the account is entitled to a credit.

    The only way to fix it would be to correct the balance directly. There's no way to fix it via a transaction because that would affect other accounts.

  • Kris_Williams
    Kris_Williams Member Posts: 3,243 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert

    Ok I haven’t heard of that before, glad you found out the cause

  • Datarec_ReckonLtd
    Datarec_ReckonLtd Reckon Staff Posts: 1,006 Reckon Staff

    Hi @mikelegg

    I'm not aware of a bug that matches the issue you are describing.

    Is your file able to go through the built-in file integrity checking function (Verify Data or Rebuild Data) without experiencing a crash or displaying an error message?

    When was the last time you did not have any problems with regard to any account balances?

    If your file is successfully able to undergo a Verify Data operation, then consider trying the following:


    1) Make a COPY of your company data file (QBW) and set it aside in a separate location.

    2) Rename the copy to clearly indicate it is an original copy of the file just before you attempt the suggestions below.

    3) Locate the Supplier record that is affected (Example: Supplier 1)

    4) rename it by adding the suffix "old" to the end of the supplier name. (Example: Supplier 1 OLD)

    5) Create a new Supplier record and give it the name of the original Supplier (Example: Supplier 1)

    6) Edit the supplier record that had the suffix "OLD" and remove that suffix, then save the record.

    (Example: Supplier 1 OLD ---> Supplier 1)

    This should result in a message indicating that an existing record exists and that a merge will occur.

    Allow the original old record to be merged into the new supplier record

    7) Confirm if the Balance of the new supplier record:

    a) Is it now correct?

    b) Is it showing the same incorrect balance as the original supplier.

  • Robyn Kelly (Partner)
    Robyn Kelly (Partner) Accredited Partner Posts: 468 Accredited Partner Accredited Partner

    With that memorised transaction is it allocated and possibly going back into the same account?