Xero - beautiful accounting software

Xero Business Community

Xero Business Community

Hi everyone, Come on over to the new discussions in Xero Central. It’s a more intuitive way to connect and chat all things business with one another. Ask questions, dish out answers, and get involved.

You can still view topics in the Xero Business Community to see all the useful knowledge that’s been shared there; and you can restart conversations you feel have been of huge value to you on Xero Central.

If you have brilliant ideas for innovations, you can keep on adding feature requests in the Xero Business Community, and voting on existing requests. There’s more in store, as we come up with the best way to take on your thoughts and share developments
Community > Accounting >

Conversion Balance Journal

Started by Henry Paul -   in Accounting

Hi there,

After playing with Xero for a few months I have finally made the jump over from my previous software. I set my conversion balance date for 1st July, the new financial year.

As I'm reviewing my accounts, there is a "conversion balance journal" that seems to be automatically created from transactions prior to July 1 that I have since deleted from the record. I can't delete this journal, but it is putting my opening balance out (specifically for my bank account).

I'd really appreciate some help, could someone please get in contact with me.

Thanks in advance,
Henry
Conversion balances are entered on setup of Xero to reflect the balance sheet account balances at the date of conversion. The are accessible from Settings, General Settings, Conversion Balances and are entered from the closing trial balance of your previous software. The bank account balance needs to be the balance at the bank, ie doesn't include unpresented items.

Here's a link to the help section on this
https://help.xero.com/nz/Settings_ConversionBalances
 

Margaret Haines  

Hi Margaret, thank you for your prompt reply.

I'm afraid things are a little more complicated. There has been an entire journal automatically written prior to my conversion date, which is throwing my balance out. There is no option to delete this journal.

I can't find any other entry in the community of anyone experiencing a similar issue. I have screenshots to explain my predicament.

I would appreciate if someone could contact me directly. Is this possible?
 

Henry Paul  

Hi Henry ! you need to check the opening entry as it seems different in the entry has caused the issue. If you require any help, please do reach me on mewanpeiris@gmail.com.

Regards,
Mewan
 

mewan peiris  

Thank you Mewan, I have sent you an email :)
 

Henry Paul  

I currently have this same issue. I have deleted all conversion balances because a journal had been created that is throwing out all of the COS accounts and drawings. I can't find any way to delete the journal as it is not listed under the general journal list. I really need to delete this conversion balance journal.
 

Rochelle Bonne  

Hi Rochelle, the conversion balance journal comes from the opening balances saved in the Conversion Balance screen. You can edit these by returning to the Conversion Balances screen, updating the balances of your accounts and saving.This will reverse the original journal using the new balances saved.
 

Kelly M (Community Manager)  

Hi
I have recently setup xero for my business and have come across this issue of conversion balance journal. I have NO entries in the conversion balances screen yet I have a large Conversion Balance Journal which is causing havoc.
How can I remove the journal? Why is it there when I have no entries in the conversion balance screen?
Thanks for your help
 

Jonathan Hirschfield  

Are there transactions entered before your Xero starting date?
 

Nancy Wauchope  

Hi Nancy. No they are posted after the start date
 

Jonathan Hirschfield  

Then call in Support to have a look.
 

Nancy Wauchope  

Hello guys. I am facing the same issue. I need to reverse the same here as my Liability balances are off but I cant seem to delete the auto generated conversion balance. Someone please come to my aide.
 

Alfred Oduor  

Hiya Alfred, the Conversion Balance journal is automatically posted based on the figures entered in your Conversion Balances screen. There's no way to delete this yourself, you'll just need to ensure the correct figures have been entered, and the green 'Save' button has been clicked. If you're still unsure on this, please don't hesitate to reach out to our Support team, who are more than happy to take a closer look in your org.
 

Lauren C (Community Manager)