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Why is there no data in the Bank Balances report. I'm very sure that there is a balance on the bank account (verified with the Balance Sheet, Trial Balance, and Cash Flow reports).

Try switching to a the other version of the report should help (top right of the report windows - Select Variant). The Default version is for when the multi-currency functionality is turned off. The FCY ("Foreign CurrencY") version is for when the multi-currency functionality is turned on.