Manually Adjust a Bank Account Balance in Clickentryadmin
- In case, you require to adjust the balance of a bank account, we advise you first try to correct the underlying transactions.
- If due to any reason, you are not been able to correct the underlying transactions then you have to adjust the balance by adding a transaction or setting up a bank account as a current asset.
What you Need to Know
- Clickentry does not allow you to post a manual journal to a bank account. This makes sure that auditing and reporting on the account remain as accurate as possible.
- The banks in Clickentry are supposed to show exactly what happened in the actual bank account. You need to compare the statement balance in Clickentry to your actual bank balance so that you can identify and fix the errors before you make a manual adjustment or set up a bank account as a current asset.
Add a Transaction to Adjust the Balance
As discussed earlier, Clickentry does not allow you to post a manual journal to a bank account. You can add a spend or receive money transaction for this, Clickentry posts this as a journal to record the transaction in the bank account.
- Firstly, you need to add a spend money transaction or a receive money transaction to record the journal side of the entry.
- Then to create a bank statement line in your bank account, mark the transaction as reconciled.
- Go to the Journal Report to view the journals posted.
You need to create a suspense or clearing account in your chart of accounts if you are entertaining a large number of entries at once, or you need to show the flow in the account over a period of time.
If you have got a spreadsheet from a client that summarise all his transactions for a month then it will be easier to set up his account as current asset to save receive or add money transactions.