How to edit starting balance

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Retained earnings do not have explicit starting balance. It’s a balancing account for all other starting balances. So if your starting balance for retained earnings is lower, then some other account has starting balance higher.

There has been an upgrade over the weekend which changes the way how starting balances are interpreted and unfortunately that is affecting portion of the userbase.

If you are affected, follow these steps which will automatically fix your starting balances so you do not have to do it manually.

  1. Go to Summary tab
  2. Click on Retained Earnings balance.
  3. If you had entered starting balances previously, there will be Fix Starting Balances button in bottom-right corner.
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  4. This will give you list of accounts where cash-basis starting balance is different from current starting balance.
  5. Click Update to accept and your balance sheet should be what it was before this update.
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