Is it possible to change the opening balance of an existing bank account in Reckon Accounts Premier
Graham Taylor Automotives
Member Posts: 41 ✭
I have gone as per the help menu to 'Chart of Accounts', I have found the opening balance line for 1 July 2015 which is marked as 'Open Balance Equity', ' Account Opening Balance' and has an amount in the 'Deposit' column and the running balance of the account in the 'Balance' Column.
This account has originally set up incorrectly a long time ago by a previous administrator. I am not sure if it was even set up with an opening balance.
When I open the account 'Edit Account' where it would say 'Enter Opening Balance' for a new account it says 'Change Opening Balance'. When I click on this it takes me to the bank account transactions screen.
I have tried to change the 'Deposit' amount, however nothing changes when I record this information. I am not able to change the amount in the 'Balance' Column.
Does anyone know if I can actually change the Opening Balance of an existing bank account or can I only change the deposit amount which seems to do nothing.
As I am fixing the system as at 1 July 2015 would a good alternative be to open a new bank account as at 1 July 2015 instead and start our banking afresh?
Thank you.
This account has originally set up incorrectly a long time ago by a previous administrator. I am not sure if it was even set up with an opening balance.
When I open the account 'Edit Account' where it would say 'Enter Opening Balance' for a new account it says 'Change Opening Balance'. When I click on this it takes me to the bank account transactions screen.
I have tried to change the 'Deposit' amount, however nothing changes when I record this information. I am not able to change the amount in the 'Balance' Column.
Does anyone know if I can actually change the Opening Balance of an existing bank account or can I only change the deposit amount which seems to do nothing.
As I am fixing the system as at 1 July 2015 would a good alternative be to open a new bank account as at 1 July 2015 instead and start our banking afresh?
Thank you.
0
Comments
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Graham,
these are questions you should consult with your accountant with... as changing the balance in one area will change balances in another area.
but yes it is possible (NOT recommended) to change the opening balance, you just have to click in exactly the right spot in the bank register screen. (it will be the top most transaction, your curser needs to be an arrow)
What I would do instead is as you have suggested open another bank account and start fresh, and leave the 'changing of balances' to clearify with your accountant (who knows your file)
Cheers
Angie Carlyle
ABCarlyle@xtra.co.nz
1 -
Thank you,
The banking on this system was never set up or running correctly. Merely keeping track of invoices and payments so changing the balance and making the account run correctly won't upset anything.
I decided to open new accounts anyway and start all over. I was just hoping for an easier way. I tired changing the balance as you described but it doesn't work.
Thanks for your help.
Jayne0 -
Hi Jayne, i would urge you to seek your engaged Accountant to help you in these situation.
If you are not getting much help from them, we can help you set it up,with no cost, however, as we are Tax Agents, we can help you to lodge your company tax returns . Call us ,on 02 95411338,
chandra@cosmicinnovations.com
Cosmic Accounting Group
Accountants and Tax Agents 22397009
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