How do I set up an opening balance for a loan account?

Hi Karen, It's exactly the same as for when you do it for all other account types. So, when you go to add bank account you select the account type as 'loan account'. Then you need to go to Settings - Getting Started - Cash. In there you will have all the linked bank accounts. Go to the one you want and just enter the amount into the box on the right. Then simply click 'update' and it should all be done.

I hope this helps.

Hi Chris

Thanks for your help but it does not resolve my problem. As my original post the loan account is not showing on the list. I have now tried several times (including refreshing Clearbooks) but I am not able to set up the opening balance. Is there some setting that limits the list of accounts?

Hi Karen,

Apologies for the slow reply. For loan accounts you can update the opening balance by going to Settings - Getting Started - Other Balances. Here you will find all your accounts, including loan accounts listed. I hope it works this time.

Chris