Starting Balance Transaction
Theresa
Member Posts: 2
Hi,
I am trying to recon the bank account from 1 Jan 2018 to date. I cannot seem to start with a negative balance. How do I go about starting with the correct starting balance? If I put the starting balance as zero then it accepts the information. However, as soon as I put the correct amount in I get the error message of "Oops! There was an issue with saving your transaction. Please try again." The Ballet Studio has been operating for a few years already, but we have only now decided to switch to using Wave.
Thanking you,
Theresa
0
Comments
@Theresa, in my experience, Wave doesn't like negative number in its transaction. Something about the way debits and credits are handled. So if you're trying to make a negative income transaction, you should try making an expense transaction from the same account instead. Say you have an overdraft amount for your business bank account, you'd make your starting transaction an expense from your bank account using Owner's Equity as a category. Lemme know if that works!
Hi Petra,
Thank you for the advice. However, this does not work either. Any other suggestions?
Hi @Theresa.
Can you give us a bit more details on what you're trying to do? If you give me a step-by-step description of what you're doing, I'll be able to find exactly at which step the process fails, and offer the best solution. The more details you can share, the better.
Sorry to jump on this thread, but I didn't see this until I posted my own "Negative Starting Balance". I'm having exactly the same issue - I can't enter a Starting Balance with a negative value. It just throws back an "oops" error.
Followed these instructions for entering a Starting Balance: https://support.waveapps.com/hc/en-us/articles/208622796-What-is-a-starting-balance-transaction-
*but just need to add a starting value as a negative ie. -£300 and not £300.
Hi, @epilo.
I followed up with you on your other discussion, let's follow-up the discussion there.