Set up Opening Balances

Account opening balances must be entered before using the General Ledger using Journals from the General Ledger Journals window.

How to Enter Opening Balances Using Journals

1. In the main menu navigate to General Ledger > Journals.

2. Add a new General Journal with the required account entries. The Effective Date of the Journal must be the same as the commencement date (see: Add a new Journal).

3. Post the Journal (see: Post a Journal).

Note: If the balance of a General Ledger account does not reflect the opening balance entered with a Journal, it may need to be posted.