The bank account balance in the account submitted to Companies House does not include the two PayPal purchases (£6.75 and £13, total £19.75) which were committed to, but not shown in the bank account. The accounts submitted to Companies House shows *exactly* what was actually in the bank account.
The accounts show a liability of £450.00 “accurals”, so I assume that the £19.75 would be part of that. I think that £450 is only an approximate figure, and is similar to the fee he will charge. (He actually charged me £480). £480 + £19.75 is obviously not £450. There’s no particularly good reason for starting the accounts in GnuCash on 1/3/2022 - in an ideal world I would start them to include the very first transaction the company made, but I don’t want to do that, as it would be too much work. Given that I have only entered one transaction, and are trying to find my way around GnuCash, I am tempted to retrieve a backup before any transactions were entered, then start entering transactions from 25/2/2022, using the closing balance on that day. There’s nothing on 25/2/2022 which has been committed to, but not shown up. It might make my life a bit easier. It means adding a few transactions I hadn’t intended to, but the accounts will all be correct, with no complications. Dave On Thu, 8 Dec 2022 at 00:05, David Cousens <[email protected]> wrote: > David, > > The problem is the opening balance you have used, presumably from your > previous > set of books closing balance, includes the two transactions at a date > before the > reconciliation on 1/3/2022 but the balance in the bank statement does not. > These > transactions would have been unreconciled in your previous books to > 1/3/2022 > although they will appear in the closing balance. > > You can simply add the transactions in your current set of books and note > that > they are carried forward from the previous books and adjust the Opening > Balance > to the reconciled balance to 1/3/2022 of your previous set of books > (presuming > you used the closing balance at 1/3/2022 when you opened the current set of > books and not the reconciled balance in them at 1/3/2022 as your opening > balance) to reflect the reconciled balance in the account at 1/3/2022. > > Notate accordingly in the opening balance transaction so it is clear at > some > time in the future should you or your accountant have to make sense of it. > > Banks record an event at a time that is relevant to their accounts, most > likely > when the funds are cleared not necessarily at the time, e.g. when you have > committed to a purchase or sale, that the event, which gives rise to the > event > in the bank's account, is relevant to your accounts. > > David Cousens > > On Wed, 2022-12-07 at 22:33 +0000, Dr. David Kirkby wrote: > > My company has been running 8 years or so. The financial year starts 1st > > March each year (1/3/2022 in DD/MM/YYYY format) > > > > I wish to enter into GnuCash all the transactions for the current > financial > > year onwards, so starting 1/3/2022 - I have no desire to enter all > > transactions from when the company first started trading. > > > > The first transaction this year occurred on 1/3/2022 and showed up > > *immediately* in the bank statement. I reconciled the bank account on > > 1/3/2022, > > which with hindsight might not have been sensible. > > > > However, the next couple of entries shown in the bank account occurred a > > day earlier on 28/2/2022, but didn’t show up in the bank account until > > 1/3/2022. This will make it impossible to get the amount of money in the > > bank account agree with the transactions in GbuCash, because two > > transactions from the previous financial year are not in the GnuCash > > records. > > > > Is there any way around this problem? Should I just enter the two > > transactions from the previous financial year into GnuCash? > > > > I know that my accountant will not be bothered either way. > > > > Dave > > > > _______________________________________________ > gnucash-user mailing list > [email protected] > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > ----- > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. > -- Dr. David Kirkby, Kirkby Microwave Ltd, [email protected] https://www.kirkbymicrowave.co.uk/ Telephone 01621-680100./ +44 1621 680100 Registered in England & Wales, company number 08914892. Registered office: Stokes Hall Lodge, Burnham Rd, Althorne, Chelmsford, Essex, CM3 6DT, United Kingdom _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
