Change an opening balance for a bank account

If you haven't reconciled the opening balance, you can amend the existing amount.

If you've already reconciled your opening balance, you can't change it. Delete the original incorrect one, then enter the correct value.

Update an existing opening balance

1. From More, go to Business Settings. 
2. Select Bank from the Opening Balances section at the bottom of the page.

If you haven't reconciled the incorrect opening balance, find the row for the relevant bank account and enter the updated amount.

If you need to change whether the opening balance was an overdrawn or a positive balance, change the Type:

• Use Receipt (Debit) when the opening balance is a positive amount
• Use Payment (Credit) when the opening balance is an overdrawn amount

Delete an unreconciled opening balance

1. From More, go to Business Settings. 
2. Select Bank from the Opening Balances section at the bottom of the page.
3. Select the Delete button next to the relevant row.

If you've reconciled the bank opening balance, you can't delete it from the opening balance page.

You will need to go to the bank activity to delete it. Find the steps to do so below.

Update a reconciled opening balances

If you're opening balance has been bank reconciled, you can't edit it. You will need to delete it, then re-enter it correctly.

Deleting cleared or reconciled transactions means your bank reconciliation may no longer match your bank statement.

Deleting reconciled transactions will:

• Remove the transactions from the relevant bank reconciliation
• Update the starting balance of your next bank reconciliation

1. From Banking select the relevant bank account by selecting the balance.
2. In activity find the Bank Opening Balance and select the tick box next to it.
3. Select the Delete button next to the relevant transaction.
4. Select Continue-delete this transaction to confirm.

Once deleted you can then enter the correct opening balance for the bank account. Read more about entering opening balances for a bank account >