Opening Balances allows you to enter opening balance bank receipts and payments instead of entering the whole lump sum. 

To record bank account opening balances,

1. From the Bank Account Opening Balance screen of the New Company Wizard, click on the New button. Or, from the Banking Module, select Opening Balance under the Setup menu to display the Opening Balance form.
2. Select the bank account in the Bank Account Code column. 
3. Select the type of transaction in the Type column. You can enter opening balances from bank receipts and bank payments.
4. Optional: Enter document references in the Reference 1 and Reference 2 columns if any.
5. Select the actual receipt/payment date of the document from the Date column.
6. Enter the actual amount of the open balance invoice or credit in the Amount column.
7. Add another line to enter other opening balance transactions by using the Down arrow key. Or, use the F6 key to copy the contents of the first line.
8. Save the details before closing the Opening Balance form. The current balance of the bank accounts are updated.
   

How To:

View history of opening balances

 

Next Steps:

Other banking setup. See Also: Other Banking Setup

Configure Banking module preferences. See Also: Banking Module Preferences

 

 

 

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