Opening Balances

 

OPENING BALANCES

 

ENTER OPENING BALANCES

When you add a new account to your Chart of Accounts, you can specify if that account has an opening balance.

However, if you already entered that account into the system and you want to enter the opening balance for one or more accounts, you can do it using the Enter Opening Balances Screen. Note that the accounts must balance and the system will not let you post an opening balance if any of the accounts are out of balance.