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starting balance

philm326philm326 Member Posts: 9

Hi Guys, About to do my gst return for June/July in NZ. I'm sure I 'reconciled april and May but doesn't show I have now, which means I don't have a starting balance for June. What may I have done wrong and can I just put in the June starting balance and if so how?? Cheers, Phil

in Accounting Technical Support

Comments

  • ChelseaKChelseaK Member Posts: 261 ✭✭

    @philm326 Yep, you certainly can enter in your starting balance for June and start reconciling from there. Head to Accounting > Transactions > choose the right account and then add an income which you can describe as the 'Starting Balance'. Then, categorize the transaction as Owner's Equity. Just in case, I've linked you to the Help Center article on entering Starting Balances in Wave: https://support.waveapps.com/hc/en-us/articles/208622796-Starting-balances-What-they-are-and-how-to-enter-them-in-Wave

  • philm326philm326 Member Posts: 9

    Thank you.How do you delete an account??

  • AmandaKAmandaK Member Posts: 73 admin

    @philm326 Are you looking to delete an account from your chart of accounts or your entire Wave account?

    We don't have the functionality to delete an account from your chart of accounts, but you can archive an account by clicking the grey pencil icon to the right of the account and selecting the Archive Account option that appears in the new window that opens.

    If you're looking to delete your entire Wave account (which I'm hoping is not the case and would love to better understand the reasons), this article walks you through the steps to do that.

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