Troubleshooting balance issues

If you've noticed that the current or historic balance is incorrect for an account, then check out this user guide to discover the most common balance issues and how to correct them!

In this user guide

Incorrect balance for a Bank feed account

Current balance showing incorrectly

If the current balance for a bank feed account is showing incorrectly, this may be due to the wrong balance option being selected for your account. 

Luckily, this is easy to fix! Check out the balance settings for your account, and choose the correct option as outlined here: Balance options for an account

Bank feeds often provide different types of balance options for you to select. You may prefer to select the Available balance, Current or Running balance, or Cash balance of an account, depending on your needs. 

Note:

If the correct balance option is not available under your balance settings, then please contact PocketSmith support with a screenshot from your online banking, showing the balance that you would like to be imported into PocketSmith. We can then get in touch with Yodlee to see if they are able to support this option.

Historic balance showing incorrectly

Missing or duplicate transactions
If the current balance for your bank feed account is showing correctly, but you notice that your historic balances are not accurate, this is likely to be due to missing or duplicate transactions. 

Historical balances for bank feed accounts are calculated using the current balance as a starting point, with transaction data added and subtracted to determine any closing balances. This means that, usually, if the current balance for a bank account is correct, any incorrect historic balances are due to missing or duplicate transactions.

If this is the case, we recommend comparing the transactions within the account in PocketSmith to your online banking. 

You're also able to use the Find duplicates tool to identify any potential duplicate transactions. The Find duplicates tool is located in the toolbar on the Transactions page (Accounts > Transactions):

If you discover a true duplicate transaction, then it's safe to delete this. You can learn how to delete a transaction here: Deleting one or more transactions
If you notice missing transactions, you can learn how to add these manually here: Manually add transactions to my account

Historic balance showing incorrectly whilst current balance is correct

Historic balance incorrect due to balance calculation error

If you notice that your historic balance is incorrect, and there are no transactions showing that account for this change in your historic balance, this may be due to a rare balance calculation error. If you notice this happening, please contact support with a screenshot showing the balance change (Calendar page or transactions page for the account) and we'll get this sorted for you!


Incorrect balance for an Offline account

Current and historic balance showing incorrectly

If both the current and historic balances for an Offline account are showing incorrectly, this may be due to:

  • the starting balance not being entered when the account was created 
  • missing or duplicate transactions
Starting balance not being entered when the account was created

When creating an offline account, you're able to enter a current balance. If this step was missed, then PocketSmith's will add a starting balance of 0.00 for the account, which may not be correct.
Luckily this is easy to fix! To add a starting balance for an offline account see: Steps to add a starting balance for an Offline account

Missing or duplicate transactions

If the starting balance for an offline account is correct, then it's likely that the incorrect balance is caused by missing or duplicate transactions.
For offline accounts using the calculated closing balance option, any closing balances are calculated by adding and subtracting any transaction data from the starting balance for the account.

This means that, usually, if the current balance for a bank account is correct, any incorrect historic balances are due to missing or duplicate transactions. 

If this is the case, we recommend comparing the transactions within the account in PocketSmith to your online banking.  

You're also able to use the  Find duplicates tool to identify any potential duplicate transactions. The Find duplicates tool is located in the toolbar on the Transactions page (Accounts Transactions) :

If you discover a true duplicate transaction then you can learn how to delete this here: Deleting one or more transactions
If you notice missing transactions, you can learn how to add these manually here: Manually add transactions to my account

Historic balance showing incorrectly whilst current balance is correct

Historic balance incorrect due to balance calculation error

If you notice that your historic balance is incorrect, and there are no transactions showing that account for this change in your historic balance, this may be due to a rare balance calculation error. If you notice this happening, please contact support with a screenshot showing the balance change (Calendar page or transactions page for the account) and we'll get this sorted for you! 


Steps to add a starting balance for an Offline account

If the current balance was not entered when setting up an offline account you can learn how to add this here.

1
Navigate to the account and click MANAGE ACCOUNT

2
From the menu that appears, select Balances

3
Enter the correct closing balance for a past date of your choosing. 


Your closing balances will now be calculated using the correct balance on this date as a starting point. 

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