diff --git a/crud.py b/crud.py
index 75b1fc4..be8f830 100644
--- a/crud.py
+++ b/crud.py
@@ -464,8 +464,15 @@ async def get_all_user_balances() -> list[UserBalance]:
             balance = await get_account_balance(account.id)
 
             # Get all entry lines for this account to calculate fiat balances
+            # Only include cleared entries (exclude pending/flagged/voided)
             entry_lines = await db.fetchall(
-                "SELECT * FROM entry_lines WHERE account_id = :account_id",
+                """
+                SELECT el.*
+                FROM entry_lines el
+                JOIN journal_entries je ON el.journal_entry_id = je.id
+                WHERE el.account_id = :account_id
+                AND je.flag = '*'
+                """,
                 {"account_id": account.id},
             )