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PS Cashbook

Closing balances from last year do not match opening balances for current year

Summary

What do I do if my closing balances from last year are not the same as my opening balances for the current year?

Detailed Description

Re-calculate Opening Balances - this function is used if you have made changes to your previous year cashbook data file and now wish to update any opening balance figures that may have been affected.

To re-calculated opening balances:

  • Click on the Setup > Opening Balances > Re-calculate balances from last years data menu option.
  • Click OK to Information message: ' To calculate the correct balances, you must have all of last years trading accounts in this years data.'
  • Click on the Calculate Balances button. (Step 1. Calculate the new balances ...)
  • Click Yes to Warning message: 'It is advisable to perform a Transaction Check on last years data before proceeding. Do you want to do this now?'
  • Click OK to Information message: 'Transaction Check Complete' or Click OK to view the results.
  • Differences will be displayed in a list - ensure that those you wish to update are ticked (un-tick any that you don't wish to update). Check the new balances.
  • Click the Update Balances button.
  • Click Yes to Confirm message: 'Are you sure you want to update all of the ticked Balances?'
  • Click OK to Information message: 'Balances have been updated.'

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