Troubleshooting for conversion balances
If you're having trouble changing your conversion balances it could be because either your accounts are locked or your historical invoices or bills don't match your conversion balance.
Only users with the Advisor user role can update data that occurs before the lock date or change the lock date. Before making any changes to your conversion balances, make sure you know what your role is and what the conversion date is.
- If your accounts haven't been locked or your conversion date is not in a locked period you can update the conversion balances even if you have the Standard role.
- If your accounts have been locked and you're not sure about making changes to your conversions balances or conversion date, invite your accountant or bookkeeper into your organization (with the Advisor user role) and get them to make the change.
- If you want to see what user role you have, look at your 'permission' next to the organization on your My Xero Home tab, or the list of users in Settings > General Settings > Users (if you have access to this).
- To change your user role to Advisor, edit your user permissions from Settings > General Settings > Users. If you don't have the ability to manage users in your organization, you will need to contact someone who does.
- To change or remove the lock date (only if you have the Advisor user role) change the organization's financial settings from Settings > General Settings > Financial Settings.
- If you do not have permission to change the lock date, no fields will be available to you, just text stating what the lock date is.
If you've entered conversion balances for Accounts Receivable or Accounts Payable, these need to match the total sales invoices or bills you have outstanding as at your conversion date.
If you entered balances during the set up process, you will also have entered matching invoices or bills before being able to complete the process. You are only likely to run into this problem of invoices or bills and balances not matching if you've made changes since completing the Set up process.
Certain actions will require the balances to be reviewed or re-saved:
- If you update your conversion balances, Xero will prompt you to enter outstanding conversion invoices or bills when you save the balances, and will not post journals for the new balances until the matching historical data is entered.
Conversion balances: invoices and bills
- If you update your conversion date from Settings > General Settings > Conversion Balances upon saving the new date you will be returned to the Conversion Balances screen and prompted to confirm that the balances already in the system are still relevant for that new date. You'll need to re-save the conversion balances however, if there existing historical invoices or bills entered before the new date which were not added originally as historical invoices or bills, you'll be asked to enter these as well before the balances will be saved and posted.
- If you enter invoices or bills dated before the conversion date (in the normal way from Sales or Purchases) you must go and update the Accounts Payable or Accounts Receivable conversion balance and re-save the balances to take these new invoice or bill amounts into account. If there is a lock date in place on the conversion date, you may not be able to enter invoices or bills before this date depending on your user role. (If you have the Advisor user role, you can change or remove the lock date to allow users to enter them).
- Conversion balance journals are updated when the conversion balances are saved. Even if you have entered historical invoices or bills before your conversion date, the conversion balance journal won't reflect this until you adjust the balance accordingly and save the new balances. View the journal report for the date range covering your conversion date from Reports > Journal Report.
Remember, a conversion balance for either Accounts Receivable or Accounts Payable needs to have outstanding invoices or bills entered as at your conversion date to match these balances. Your Accounts Receivable or Accounts Payable balance can be 0.00 and therefore no historical invoices or bills need to be entered. Entering a 0.00 balance is a good thing to do in the interim while you get together your historical invoices or bills if you don't have them to hand or you want to import historial invoices or bills.