• rida
  • Member
  • Offline
  • From: New Zealand
  • Registered: 12/10/2013
  • Posts: 38

Topic: openning balance

Hi

have installed the FA and everything works fine .
I need to make an opening balance to the bank account and i dont know how to do it.

I did create bank account and now the problem is how can i post initial opening balance.
do i need to use the "quick entry Link"or "GL accounts link" this one is real confusing to me.
Please need your help here.

Thanks

Rida

  • From: Singapore, India, Chennai
  • Registered: 05/02/2009
  • Posts: 6,156

Re: openning balance

Enter one Journal Voucher with all Balance Sheet Entries (amounts) in detail dated the beginning of the Fiscal Year (close of last Balance Sheet).

apmuthu's Website

  • rida
  • Member
  • Offline
  • From: New Zealand
  • Registered: 12/10/2013
  • Posts: 38

Re: openning balance

Hi apmuthu

I have a fresh installation and am not migrating any accounting records so dont have any balance
sheet entries.
when i create the journal what account code i must enter and  the amount will be dbt or crd

thanks

Rida

  • From: Indonesia, Jakarta
  • Registered: 05/08/2013
  • Posts: 28

Re: openning balance

I think for bank account should be in Debit, and Equity account on the Credit.
You can ask your accountant for more accurate answer.