Solution Properties
Solution ID:
200427112208491
Last Modified Date:
Tue Jun 23 10:16:32 UTC 2026
Taxonomy Path:
Case category//How do I...//banking/reconciliation
Author:
[email protected]
Correct a bank opening balance
Description
Cause
Resolution

Reverse an incorrect opening balance

You can reverse a reconciled opening balance by entering the opposite transaction to the original opening balance, using the same reference and date.

  1. Go to Bank accounts, highlight the required account, and select Edit.
  2. Click the Current Balance option and enter the Ref and Date of the original opening balance. Then:
    • If the original entry was a receipt (debit), enter the value into the Payment box
    • If the original entry was a payment (credit), enter the value into the Receipt box
  3. Select Save, Save again, then Close.

You can now enter the correct opening balance.

▼ View an example of the opening balance postings.

here

You enter an opening balance of £/€1000.00 as a receipt, using a date of 31/01/25.

Bank Date Ref Details Payment Receipt
1200 31/01/25 O/Bal Opening Balance   1000.00

The correct opening balance is 01/02/25 with a value of £/€900.00.

The first transaction reverses the value of the original opening balance, using the same date, reference, and details:

Bank Date Ref Details Payment Receipt
1200 31/01/25 O/Bal Opening Balance 1000.00  

The second transaction posts the correct opening balance value on the required date:

Bank Date ref Details Payment Receipt
1200 01/02/25 O/Bal Opening Balance   900.00

here

 

Correct unreconciled items to remove from the opening balance

Reverse the value of the uncleared items included in the opening balance.
  1. Go to Bank accounts, select required account, then select Edit.
  2. In the Balance section, select the Current Balance option.
  3. Enter the Ref and Date of the original opening balance.
  4. Enter the value of any uncleared payments in the Receipt field, then click Save.
  5. Click the Current Balance option again and enter the Ref and Date of the original opening balance.
  6. Enter the value of any uncleared receipts in the Payment field.

    TIP:

    Enter payments and receipts separately as in the steps above. If you enter both at the same time, selecting Save only saves the value in the Payment field.

  7. Click Save then Close.

Post the uncleared transactions

Enter the uncleared items as bank payments or receipts.

Bank receipts

  1. Go to Bank accounts, select the required account, then select Bank receipt.
  2. Enter the required Date and Ref.
  3. Enter the Suspense Account nominal code, 9998 by default in the N/C column.
  4. Enter any Details, and add the value in the Net column.
  5. Select T9 in the T/C column if using Standard VAT.
  6. For VAT Cash Accounting use the correct net and VAT split with the correct tax code.
  7. Repeat steps 2 and 3 for each individual receipt, then click Save, then Close.

Bank payments

  1. Go to Bank accounts, select the required account, then select Bank payment.
  2. Enter the required Date and Ref.
  3. Enter the Suspense Account nominal code, 9998 by default in the N/C column.
  4. Enter any Details and add the value in the Net column.
  5. Select T9 in the T/C column if using Standard VAT.
  6. For VAT Cash Accounting use the correct net and VAT split with the correct tax code.
  7. Repeat steps 2 and 3 for each individual receipt, then click Save, then Close.

 

[BCB:19:UK - Sales message :ECB]
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