How do I make last year's ending balance equal this year's starting balance?

I started a new fiscal year, but the bank and/or internal account starting balances are not the same as the prior year ending balances.  How do I correct this problem?

This occurrence is not unusual. It happens when a new year has been started and then changes are made to the prior fiscal year. Changes made to the prior year after a new has started are not automatically carried forward into the new year.

For NTS Versions 5.10 and above

  1. In the Checkbook, change the fiscal year to the prior fiscal year. Example: The starting balance in the 2019/2020 starting balance is incorrect. Change the fiscal year back to 2018/2019.
  2. Change the fiscal year back to the new/current fiscal year with the incorrect starting balance. (In the Example above, change the year back to 2019/2020.)
  3. The software will ask if you would like the system to update the starting balances. Answer Yes.
  4. A message will appear informing you if the balance update was successful. If it is not successful, continue with the instructions below.

For All NTS Versions

If no transactions have been posted in the new year, see Starting a new fiscal year for easy instructions. Complete steps 4 through 6 on this page to correct the starting balances.

If transactions have already been posted, then do the following:

  1. At the top of the checkbook screen, click Setup and then Bank/Internal Account list.
  2. At the bottom of the setup screen, click the "Bring Balances forward from Previous Year" button.
  3. The ending balances from the prior year (both internal and bank accounts) will be on the right side of the screen. The current year starting balance will be on the left side of the screen. The starting balance should be the same as the ending balance for each individual bank and internal account. If there is any difference, then do one of the following options to correct the discrepancy. You may need to scroll down through the list in order to see all the accounts.
    1. Take the prior year ending balance and type that amount in on the left side in the Current Year Starting balance. Just click on the starting balance and start typing in the correct amount to change it.
    2. Double click on the prior year ending balance. This will change the amount in the starting balance column to the correct amount.
  4. Verify that the totals are correct once all the necessary corrections have been made. Locate the total at the bottom of each account list. All 4 totals should be the same. If they are not, there is still a problem with one or more accounts.

If you are unable to get all of the totals to match, please give us a call for further assistance. Our contact information is at the end of this page.

Bring forward ending balance from prior year.