HOW TO CHANGE OPENING BALANCE

oztheguitarman · Post by **oztheguitarman** » Fri Jul 04, 2008 1:39 am

3rd July, 08

The print out Activity Report for the month of January 2008 indicates the opening balance in the Coast Capital Operating account 01-1110-000 as
$ 12942.21

As per the Bank Statement ending 31st December 2007 the bank balance is $ 13984.25.

a) Is there a way to change the opening balance figure to reflect the bank statement as at 31st December 2007?

b) I will be installing the new Version 10.4 to replace the existing version 9.0. Once I have done installing the new version, can I add the oustanding cheques from December 2007 so I can use the program to do the bank reconcilliation for Jan 2008.

Thanks for your advice.

Regards

Osvaldo De Souza

Matt · Post by **Matt** » Sat Jul 26, 2008 7:27 pm

If the difference between the bank statement balance and the 01-1110 account balance as of December 31 is due to outstanding checks you do not want to change the opening balance. If the 01-1110 account balance is incorrect you can correct this by inputting an entry in Fund Accounting and posting it to December 2007, assuming that month is still open in PowerChurch.