accountant

I couldn’t see the correct amount which I had entered as opening balance? What could be the reason?

This could happen when you have transactions recorded before the opening balance date.

Let’s take an example where you have entered $1000 as opening balance dated on 01-01-2016. But, you have a transaction recorded for $500 on 25-12-2015. In this case, the opening balance amount would take account of the $500 income and will display the opening balance as $1500.

To rectify this issue, it is advisable to set opening balance to a date before the date on which the transaction was recorded.

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