• Registered: 03/28/2014
  • Posts: 5

Topic: opening balance not 0

Hi,

Could anyone tell me how to reset an opening balance to 0.   In my Debtors Control Account, it shows an opening balance of 4.99 no matter how far I go back in my history (even past the start of my records and first sale).

Thanks in advance.

2 Reply by apmuthu (edited by apmuthu 09/01/2016 05:32:35 am)

  • From: Singapore, India, Chennai
  • Registered: 05/02/2009
  • Posts: 6,160

Re: opening balance not 0

Check the list of Debtor balances in the trial balance and see if there are any discrepancies with actuals. It is possible that some opening balance entry before start of operations is the cause of this unless some inadvertent direct db intervention deleted / inserted some entry.

Make a "dummy" payout to (Dr) / deposit from (Cr) the relevant debtor in FA to annul the opening balance. make it at the end of the previous fiscal year if it remains open or at the beginning of the current fiscal year otherwise. Your Cash/bank balance would take the contra ( adjust reality with it - pocket the difference or pay it in wink ). Alternatively, a Journal Voucher may do it.

apmuthu's Website