Banking
Question asked by Jonathan Penn 9 years ago
HI
Hi Jonathan - If you are putting an entry through to get the balance to agree with the accounts your accountant prepared for last financial year then, what Richard suggests should sort it, with a credit to the bank account reducing the balance (or increasing an overdraft) and a debit doing the reverse.
If it's for more recent periods however, or a way to get the balance right at the year end before your accountant starts work, then this is not a recommended solution and so I'd suggest you encourage your accountant to login to review the books every so often to try and pick up where the banking is going wrong, you'd be surprised how easy it can be to do this but it may not be obvious without some assistance & support.
Best answer
Hi Jonathan,
While we really would recommend that you reconcile the bank account properly (links to some of our Support Guides to help you with this process are included below), if you really want to simply have the balance correct as of a certain date, you can create a journal (Tools > Journals) crediting or debiting the bank account and debiting or crediting Retained Earnings (depending on whether you need to add money to the bank account or take it away). This should allow you to alter the balance to match your actual bank account.
https://www.clearbooks.co.uk/support/guides/reconciliation/bank-reconciliation/
https://www.clearbooks.co.uk/support/guides/reconciliation/bank-reconciliation-tool/
I hope this helps. All the best.
Hi Jonathan - If you are putting an entry through to get the balance to agree with the accounts your accountant prepared for last financial year then, what Richard suggests should sort it, with a credit to the bank account reducing the balance (or increasing an overdraft) and a debit doing the reverse.
If it's for more recent periods however, or a way to get the balance right at the year end before your accountant starts work, then this is not a recommended solution and so I'd suggest you encourage your accountant to login to review the books every so often to try and pick up where the banking is going wrong, you'd be surprised how easy it can be to do this but it may not be obvious without some assistance & support.
Best answer
I can only echo what Paul's said. Generally, month by month, reconciliation difference are fairly easy to spot and correct and in all honesty I would probably urge you to do it for the accounts in question rather than fudge it as you're suggesting.
You must 