Forum Discussion

RPT's avatar
RPT
Experienced User
6 years ago

bank account balance not reflecting actual balance

  • Steven_M's avatar
    Steven_M
    6 years ago

    Hi RPT 

     

    The balance of an account in the Accounts List is the balance of the account including all transactions. This does include future dated transactions. The account balance of the Find Transactions window is up to a set date (generally today's date). This does mean there may be a difference between the account balances if you have transactions recorded in the future.

     

    I would recommend going to Banking>>Bank Register and extending the date range i.e. make the To date well into the future i.e. 31/12/9998. This will show you all the transactions for that account including future dated ones. The balance listed on the last transaction window should agree with the Account list balance as you are now showing all transactions for that account and the transactions dated after today's date would be the differences between the account balances. 

     

    The balance of the account in the top right of the Bank Register is just a direct copy of that account list balance.

     

    Do let us know how you get on and if you require further assistance.

RPT's avatar
RPT
Experienced User

Where do I see the incorrect balance? - Many places, here are a couple of examples:

In the accounts list - the 'bank account' account shows the wrong figure.

In the 'Bank Register' screen the balance in the top left corner also shows the wrong figure.

 

If I click the balance button beside this figure it shows the history of the correct balance and the ending balance on this screen is correct.

 

What might have caused the problem? I use mutiple currency bank accounts. I recently paid a Yen invoice from this account. Realising my mistake I entered the payment journal and changed the account to the Yen account. I suspect that there is an object file somewhere that generates this balance which did not pick up the reversal of the payment.

Steven_M's avatar
Steven_M
Former Staff
6 years ago

Hi RPT 

 

The balance of an account in the Accounts List is the balance of the account including all transactions. This does include future dated transactions. The account balance of the Find Transactions window is up to a set date (generally today's date). This does mean there may be a difference between the account balances if you have transactions recorded in the future.

 

I would recommend going to Banking>>Bank Register and extending the date range i.e. make the To date well into the future i.e. 31/12/9998. This will show you all the transactions for that account including future dated ones. The balance listed on the last transaction window should agree with the Account list balance as you are now showing all transactions for that account and the transactions dated after today's date would be the differences between the account balances. 

 

The balance of the account in the top right of the Bank Register is just a direct copy of that account list balance.

 

Do let us know how you get on and if you require further assistance.

  • RPT's avatar
    RPT
    Experienced User
    6 years ago

    Thank you Steven

     

    That is exactly the answer.

     

    It is actually a feature I can use to make sure I have sufficient funds in the account for the upcomming tax payments now that I know what it shows :-) 

    • RPT's avatar
      RPT
      Experienced User
      6 years ago

      There is a figure displayed in the business insights and the bank reconcilliation screen for the balance of a bank account. It is completely different to the actual balance and does not reflect any previous balances. Pressing the blue arrow beside the balance displays a screen with the correct balance. i have no idea where this balance comes from but it is very missleading. I tried reconciling the bank account up to date - it did not change this figure. I dont use live feeds, I prefer to manually load my bank information. Anyone have any ideas?

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