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garethhowell
January 13, 2023
Solved

Can't enter negative opening balance on a newly created cash/bank account

  • January 13, 2023
  • 1 reply
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We pay our water bills on a monthly DD. Sometimes the account is in credit, sometimes in debit.

 

I've just created a new "cash at bank and in hand" account to track payments and bills. Unfortunately, I entered the wrong opening balance and I now cannot correct it. I entered the opening balance as a positive number when in fact it should be negative (just reflects the position at the start of the year)

 

I followed the process in the help, found the (only) transaction in the account and edited. However, when I save I get an error "! Enter a transaction amount that is 0 or greater"

 

So, how do I enter a negative opening balance?

 

 

Best answer by GeorgiaC

Hi garethhowell, as there's only one transaction posting in the account (which can't have a negative value), we'd recommend deleting the transaction, making the account inactive (select the drop-down beside the account in the CoA > make inactive) and then re-creating the account. You'll then be able to enter a negative value (denoted with a - symbol) in the 'balance' field when setting up the cash at bank and in hand account. Please note, as no two accounts can have the same name, you may wish to rename the original account before making this inactive, to free up the name to be used on the new account. 

1 reply

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GeorgiaCAnswer
January 13, 2023

Hi garethhowell, as there's only one transaction posting in the account (which can't have a negative value), we'd recommend deleting the transaction, making the account inactive (select the drop-down beside the account in the CoA > make inactive) and then re-creating the account. You'll then be able to enter a negative value (denoted with a - symbol) in the 'balance' field when setting up the cash at bank and in hand account. Please note, as no two accounts can have the same name, you may wish to rename the original account before making this inactive, to free up the name to be used on the new account. 

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