1 (edited by tom 01/09/2025 02:24:44 pm)

Topic: The Opening Balance is not in balance

I likely made a mistake when I started this new company...

I was looking at 2024 Trial Balance and get the message

The Opening Balance is not in balance, probably due to a non closed Previous Fiscalyear.

This is the First year... BUT I made it by deleting previous years from my store, it just change ownership structure

The non-zero values in the BROUGHT FORWARD are Checking Accounts, Receivables, Inventory, Sales Tax Liabilities (from previous year)
and loans from shareholders... oops the last one I may need to void out

So since I am explain all these, then it is ok and I should not have to worry about it in the future?

I also noticed that I have some open balances that should have been $0
There were no transactions against that, so I was wondering if I could edit the Opening balance to 0

Tom