Opening Bank Balance
The opening bank balance for the first statement mirrors the opening bank balance for the first day of the financial year. You can check this in Settings - Bank Accounts.
​
Each month following will automatically take the prior month’s closing bank balance as its opening balance.
​

Closing Bank Balance
This is automatically calculated as the sum of all bank transactions recorded in Farm Focus regardless of whether they are coded or uncoded.
​
This should reflect the actual closing balance for the month at the bank.
​

Closing Focus Balance
This is automatically calculated as the sum of all bank transactions that have been coded in Farm Focus.
​

Discrepancy
If the closing bank balance and the closing focus balance for each month don't match a discrepancy will appear.
​
Discrepancies can be caused by uncoded transactions, duplicate or missing transactions, or transactions that have been deleted.
​

Closing Date
The closing date is automatically captured by Farm Focus as the last day of each month.
​
If the last day of the financial year falls on a weekend you will see a warning to check the closing balance on the physical bank statement.