Opening balance not showing as opening retained earnings

Question asked by James Gratton 9 years ago

When I created the ClearBooks account the software asked to create a bank account and specify what the opening balance was. I did this.

I now notice that the in Settings->Getting started->Cash screen, the bank account shows 0.

I've also created another bank account and manually specified the opening balance in the Settings->Getting started->Cash screen.

If I now look at the Settings->Getting started->Other Balances screen, the first bank account shows 0 whilst the second shows the opening balance I specified. In addition, the retained earnings for the period shows the value of the second account only.

If I manually add an opening balance for the first account, the opening retained earnings is correct but the bank account now shows the wrong value (double the opening balance).

How do I make the opening balance appear in the opening retained earnings whilst not doubling the value in the bank account?

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2 Replies

Hi James,

Since resolving this issue is going to require us to discuss account specific information with you, could you please raise it again as a support ticket?

You can do this by emailing contact support, or by clicking on the Need Help? link at the top of every Clear Books page and choosing the Send us a message option.

Please confirm in the ticket which of your Clear Books accounts you are experiencing the issue on and what you expect your opening balances to be for each account.

Best answer
9 years ago

Can you put a screenshot up of your balance sheet and detail what the two opening balances should be?

9 years ago

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