Cashflow: Why is my closing bank balance different to the next months opening balance?

Cashflow: Why is my closing bank balance different to the next months opening balance?

Issue:

When in actuals, your opening bank balance for a projected month does not equal the closing balance for the actual month before.



Cause:
Differences to the actual bank account can be because other actuals transaction (e.g. GL Journals) may have been processed through the actual GL bank that are not replicated in Forecast 5 as cash transactions.
Or because the closing bank balance for an actuals month has been misentered as it is calculated based on the Net Cashflow less the Opening Bank Balance (all actual entry).

E.g. 
Receipts = $10,000
Payments = $5,000
Net Cashflow = $5,000
Opening Bank Balance = $50,000
Net Cashflow ($5,000) + Opening Bank Balance ($50,000) 
Closing Bank Balance = $55,000


And the projected month takes the Actual entry of the month prior to run through the same calculation:
Receipts = $10,000
Payments = $5,000
Net Cashflow = $5,000
Opening Bank Balance = $48,000
Net Cashflow ($5,000) + Opening Bank Balance ($48,000) 
Closing Bank Balance = $53,000







Solution:

If you believe the Actual entered bank balance to be correct ($48,000) then you need to go through and check the Payments and Receipts have been entered correctly.

If you believe the (calculated) closing bank balance ($55,00) to be correct, then you need to adjust the Actual Bank Balance to the Closing Bank Balance.


Once that has been correct, refresh the reports and you will see the cashflow balance.


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