trevort
Member
Balance adjustments are causing me grief, I have been cleaning up my data since I can look at it now with the QI. However when I delete a Balance Adjustment on a property asset because I am going to go back and properly setup the transactions, my chequing account looses the amount equal to the Balance Adjustment. There is no transaction to cause the deficit, and even when I load up my accounts in QI, the balance on the right hand is correct but the balance on the account is inexplicably debited.
Although I am using the QI to view the accounts and balances, all changes and entries have been made in the iphone app alone, not the desktop client., which is why I am not reporting it as a bug with the QI.
Hello trevort, I just posted an article to the blog about Balance adjustment and Opening balance.
Here is an extract:
Opening Balance is your initial amount, which you add to your account when you start using the application. For example, you start using iBearMoney in April 2010, but by April 2010 you have already had other transactions, and you already have some money on your account. So you need to add money to you account to show how much you have there. Now we show this act as Opening Balance.
Similar event occurs with Balance Adjustment. Sometimes you recognize that you have not recorded all your transactions, and that the amount on your account is different from your actual amount. So instead of adding the transactions that you don't remember, you simply Edit the account. Now we show this event as a new transaction Balance Adjustment. It has always been in the application as well, but was hidden. Now you can see it.
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