Settings and activity
1 result found
-
11 votes
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.
An error occurred while saving the comment 
Jerry Stark-Bates
supported this idea
·
Kelly,
If the running balance is for each account group, then the total balance should ONLY be placed at the end of each account group, not a total for all accounts selected.
Your responses to this query are concerning and dismissive, do not actually address the problems, and call into question whether you have qualified accountants on the consulting team for the software, since even as a STUDENT, I can see several glaring problems with this method of calculating. For a program being marketed as an industry standard, you really need to be taking into account the issues being brought to your attention.
Yes, accounts have debit and credit transactions, and yes, we understand that they both need to be checked in order to have a working running balance. The problem is that those account final balances are not being identified as Debit or Credit accounts, and if you have multiple accounts in the report (for example an Asset account and a Revenue account), the Revenue balance should be calculated as a 'negative' against the Asset in order to represent a true and accurate representation of the business, not just added together. One of the BASIC accounting principles is about not overstating the value of the business, and the significant oversight in the calculation of the running balance values places many businesses, who may be relying on your software to provide that accurate image, at risk.