Help Reconciling - Opening balance

Sarah-HeronRock

Hi I’m new to Crunch and having a reconciling issue. When I set up my bank account I added £5 to test it was working, I then linked to my crunch account and stated my ‘Opening balance’ was £5. It’s now begun reconciling my deposits and withdrawals but it thinks the £5 in the account was a deposit on top of the opening balance so states the balance is £10. As I’m unable to change the opening balance now as it’s locked I’ve had to note the non-existent £5 as a personal transaction to be able to use the software so it’s still £5 up on whatever my actual balance is, how can I correct this?

Any help would be appreciated, thanks!

Katie

Hi Sarah,

Sorry to hear you’re having trouble. Fortunately, this should be easy enough to fix.

The reason you’re unable to edit the opening balance is that there are a couple of reconciled transactions. Here’s what to do:

Go to the banking section and click on ‘More’.
From the drop-down menu choose ‘View reconciled transactions’.
Click on ‘Unmatch’.
Next, go back to that main banking page.
Click on ‘Edit’. You’ll now be able to update your opening balance - This should be £0.00

You may need to remove the CSV files containing your transactions as the balances may be incorrect on these. Let me know if you need some guidance on updating these.

All the best,
Katie

Sarah-HeronRock

Hi Katie, Thanks for your reply I’ve managed to unmatch and change the opening balance to 0 but now when I try to reconcile I get a message saying:

There’s an issue with your balance
Your opening balance for this account is £0.00, but based upon the earliest statement entry we have (£5.00 on 25 Apr 2023), it looks like you started your financial year with £5.00 in this account.

Is your opening balance wrong, or are you missing a statement for this account?
…..
I get two options, to update opening balance or upload a statement.
Any ideas what to do next? If I change the opening balance back to £5 then i’ll still have the £5 to reconcile and will be back up to £10 , if I add a statement will that not land me in the same scenario?

Thanks again,
Sarah

Sarah-HeronRock

Sarah-HeronRock
I’ve just noted actually that I can’t upload a statement anyway as I have open banking integrated.

Katie

Hi Sarah,

It sounds like the CSV’s have the wrong balance on them, so they’ll need to be removed and re-uploaded with the correct data.

You said the first entry was £5.00 deposited into the bank account. This means the first balance on your CSV should also be £5.00.

Remove the statements:

Go to Banking > More > View Statements
Options > Delete (do this for all statements)

Cancel Open Banking

On the tile for your bank (banking page) hover over the Open Banking icon
Cancel Feed

Fix and re-upload your CSV OR Re-enable Open Banking

If you’re keen to reconcile right away, you can create a CSV based on your bank statement and upload this.
You can re-enable Open Banking once the CSV is uploaded.
OR
If you’re happy to wait, simply re-authenticate Open Banking and this should import your historical transactions.

Hope this helps,
Katie

Sarah-HeronRock

Thanks Katie,
That seems to have fixed it. I’ve reconciled all the payments using csv file and balance is now correct, have relinked my bank account so hopefully once that’s reconnected it will stay corrected.

Thanks again for your help!
Sarah

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