Balance brought Forward (1 Viewer)

spinev

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I created a database for invoices and payments and I am trying to expand and include a bank reconciliation.

I am still trying to figure out how I can make this happen as I am not sure if there is an option to include a balance brought forward and balance carried forward.

The report or query will be generated by date, for example from 1st May to 31 May, thus i need the balance to be brought forward with the balance till end of April.....to give the total of the balance which is either a debit or credit.

any suggestion on how I need to structure this from scratch? I would like to include in my current database to have one database as I would then need to link my expenses to the reconciliation.

thank you in advance for your guidance.
 
Just store the date and balance from the previous reconciliation in a table somewhere.

Personally, I'm not sure I would bother. Do you store all the statement transactions as well, and cross match the bank records to the statement? Is that how you do it?
 
Not a good idea to store intermediate balances. They are available by simple formulas: (which assume that all transactions are dated).
1) period start balance = bank opening balance +debits - credits up to a day before start of reported period .
2) period closing balance = period start balance + debits - credits between start and end of reported period.

I doubt it can be done any simpler than that.

Best,
Jiri
 
Not a good idea to store intermediate balances. They are available by simple formulas: (which assume that all transactions are dated).
1) period start balance = bank opening balance +debits - credits up to a day before start of reported period .
2) period closing balance = period start balance + debits - credits between start and end of reported period.

I doubt it can be done any simpler than that.

Best,
Jiri
I'm not sure how you would actually do a bank rec. Do you store both the cash book entries and the bank statement entries in different tables, or do you just store one. I can see that a bank statement entry would not necessarily match to a single cash book item, (depends how you record entries, of course). Would you want to be able to produce a reconciliation as at any point in time, or just "now,". That would make a difference as well.
 
I'm not sure how you would actually do a bank rec. Do you store both the cash book entries and the bank statement entries in different tables, or do you just store one. I can see that a bank statement entry would not necessarily match to a single cash book item, (depends how you record entries, of course). Would you want to be able to produce a reconciliation as at any point in time, or just "now,". That would make a difference as well.
My standard approach is keep separate tables for (bank) accounts and transactions. The accounts have description, account number, opening date, opening balance, status, etc. Transactions are not hard wired to a single bank account: they will have the bank as an FK, either on the debit or credit side of the transaction (or on both, in a case of transfer between bank accounts). I don't think there is much to be invented or improved upon here. Reconciliation is automatic: all you need is to order the transactions in the bank account and then compare it with the bank statement. Here is a sample of a transaction entry screen from my home accounting system (based on the now-defunct Microsoft Money):

1717776004839.png


Best,
Jiri
 

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