Entry Begining Balance

The easiest way of doing this is to create a fiscal year that is one year back and enter a complete Voucher (Journal Entry) with all the open balances. You should use the last day of this fiscal year as the entry date.
You must be able to enter Bank Transactions in the Journal Entry form, and to do that you must be logged in as an Administrator. Bank transactions are normally done in the Bank Deposits/Bank Payment forms.

Finally you can enter the stock item levels in the Inventory module. If you are doing this before you enter item prices, the entries will not create any GL transactions. The GL open balance must include the Inventory balance.

After you are done, you create the correct new fiscal year, change to this year in the Setup, and continue from here.

We will later create a more detailed article on this item.