How do I make last year's ending balance equal this year's starting balance?

I started a new fiscal year, but the bank and/or internal account starting balances are not the same as the prior year ending balances.  How do I correct this problem?

This occurrence is not unusual. It happens when a new FISCAL YEAR year has been started and then changes are made to the prior fiscal year transactions. Changes made to the prior year transactions will also change the Fiscal Year ENDING BALANCE and this balance WILL NOT automatically transfer to the next Fiscal Year STARTING BALANCE.

If no transactions have been posted in the new year, see Starting a new fiscal year for easy instructions. Complete steps 4 through 6 on this page to correct the starting balances.

If transactions have already been posted, then do the following:

  1. At the top of the checkbook screen, click Setup and then Bank/Internal Account list.
  2. At the bottom of the setup screen, click the "Bring Balances forward from Previous Year" button.
  3. If a message appears about Reconciliations that have already been done, then click the OK button and then press the F9 key (or CTRL + R) on your keyboard. This will unlock the ability to change the Starting Balances.
  4. The ending balances from the prior year (both internal and bank accounts) will be on the right side of the screen. The current year starting balance will be on the left side of the screen. The starting balance should be the same as the ending balance for each individual bank and internal account. If there is any difference, then do one of the following options to correct the discrepancy. You may need to scroll down through the list in order to see all the accounts.
    1. Take the prior year ending balance and type that amount in on the left side in the Current Year Starting balance. Just click on the starting balance and start typing in the correct amount to change it.
    2. Double click on the prior year ending balance. This will change the amount in the starting balance column to the correct amount.
  5. Verify that the totals are correct once all the necessary corrections have been made. Locate the total at the bottom of each account list. All 4 totals should be the same. If they are not, there is still a problem with one or more accounts.

If you are unable to get all of the totals to match, please give us a call for further assistance. Our contact information is at the end of this page.

Bring forward ending balance from prior year.