Enter a Company Opening Balance

Enter a Company Opening Balance

This video will show you how to enter opening balance for customers or suppliers.



It is essential that you ensure that relevant nominal accounts are set up in your system, this can be skipped if previously carried out.

Creating the opening balance nominals
  1. Go to [Accounts | Nominal Accounts Setup].
  2. Click Edit, followed by +New.
  3. Enter a code for your new nominal code, we have use CuOB and SuOB for our Customer and Supplier opening balances respectively.
  4. Select the System Type as either Customer Opening Balance or Supplier Opening Balance.
  5. Set the Account type as Company.
  6. Save the screen.
Entering the opening balances:
  1. Go to [Accounts | Trial Balance].
  2. Click Actions and select Enter Opening Balances.
  3. In the popup dialog box select the customer or supplier as required.
  4. Enter the details in the remaining fields as required ensuring that the correct nominal (Customer or Supplier) is selected.
  5. Click Post Transaction.

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