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  1. Account Transactions Report - Running Balance calculation

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    10 comments  ·  Reports & tax » Reporting  ·  Admin →
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    Gaining Support  ·  AdminKelly Munro (Community Manager, Xero) responded

    Thanks for your feedback here, community.

    Right now the way the running balance in the Account Transactions report works is that it shows a cumulative balance for each account group.

    The report must include the Debit and Credit columns for the running balance to work.

    It's based on the chronological order of transactions when the report first loads. So if you sort by another column, click Update to refresh the running balance.

    We appreciate the difference in how you'd like this calculated here, but want to be upfront this isn't something we have plans to change at present.

    We're keeping a close eye on interest around this way of calculating here If there is any plan made we'll let you know.

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    James Holdridge Properties Ltd commented  · 

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    James Holdridge Properties Ltd commented  · 

    Hi Kelly, see all the comments below since your last reply.

    You state that "The report must include the Debit and Credit columns for the running balance to work "

    I agree with the fact that it must include both columns BUT would argue the running balance does not work correctly.

    The running balance should be the Credit column MINUS the Debit column NOT a cumulative total - as adding them together is not actually a
    " Running Balance " at all,. It is simply "adding two numbers." !!

    Therefore if you had 3 apples and I took 2 apples away, using Xero logic your running balance would be FIVE apples ....................when in fact you would only have ONE.

    Please see attached so you can see an actual example of the issue -

    A Credit of £663 less a Debit of £336.78 should produce a Running Balance of £326.22 but it shows £999.78 ( which is the numbers added together) not Debits subtracted from Credits.

    If you need to keep the Running Balance as it is (for some reason) what we need is for :-

    An extra column included which is headed ( for example ) "plus/minus" or " profit/loss" and for it to subtract the debits from the credits.

    IF the number it generates is positive it needs to be unbracketed BUT if the number it generates is a negative number THEN the figure needs to be shown in brackets.

    XERO is accounting software and, with respect, as stated in my original request, what you are showing in your reports is totally contradictory to the usual accepted Accounting Rules.

    Surely, you can't accept this and not leave it as "something we have no plans to change at present" ?

    PLEASE RESPOND TO US ALL URGENTLY

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