Recheck the accounting

Recheck the accounting

This is one of the most useful features: all the accounting file is rechecked, all the balances are recalculated and the user is notified if errors are found.
Use this feature any time you think something might be wrong (for example transaction differences)
The Recheck accounting (Shift+F9) from the Account1 menu will proceed to a complete control of your accounting file, by executing the following operations:

  • cancel all the accounts balances
  • recalculate and recheck all the transactions
    In case the parameters of the VAT codes (VAT codes table) have been modified, the values of the VAT, related to the new parameters, will be updated in the Transactions table.
  • recalculate and recheck all accounts and groups
  • recalculate all classes of the Totals table
  • recalculate the amounts of the Balance column in the Transactions table (Cashbook)
  • recalculate the amounts of the Calculated balance (Multicurrency accounting)
  • if errors are found in the Transactions table, a message will be shown
  • if errors are found in the Categories table or in the accounting plan, a message will be shown

If, after having rechecked the accounting should some transaction differences be pointed out, they can be found with the Search for transaction differences command.

 

Balancing the opening balances

At the opening, the amounts of the Total Assets should correspond to the Total Liabilities, otherwise it is not possible to have a correct balancing. You need to check that in the information window there is no Opening balances difference message. If there is, you first need to correct the opening balances of the Balance Sheet so that the Total Assets balances the Total Liabilities. (Opening balance column).

In the following example the program shows an error message reporting a difference of 450.- USD.

After having corrected the opening balances the Total Assets must correspond to the Total Liabilities.

It is also possible to check the balancing in the Totals table.

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