Update Monthly Balances

Tools > Update Monthly Balances

Update Monthly Balances reloads the database tables utilized by the Financial Statement Report Writer with transaction totals for all accounts. This process will update amounts forward, backward, or both from the beginning of the specified year.

Suppose financial statement reports become out of sync with general ledger activity due to internet connectivity or other issues. In that case, this option can be run at any time. It matches the account balances with the detailed general ledger transactions.

Timeframe: Specify if account balances should be reloaded going forward from the specified year, backward from the specified year, or both. 

Base year: Determines the year to start when updating forward or backward. 

Update period buckets:

• If checked, the system will read every detailed transaction in the account history to calculate each account's monthly total. This process reviews a large amount of data and can take significant time to complete.
• If unchecked, only the beginning balance for the year selected is updated 

Important: If Settings > Accounts Payable > Entry Options is set to Update general ledger upon Post, all AP and AR batches must first be posted before running Update Monthly Balances. If unposted transactions exist, then the process may not be initiated.