• From: Nigeria
  • Registered: 09/08/2007
  • Posts: 124

Topic: Entering Begining Balance

Good Day All,

Migrating from another accounting system to Frontaccounting, I am confused about the beginning balances. Are we using BALANCE SHEET for the journal entry for beginning balance or TRIAL BALANCE.

Please Clarify.

Thanks

Popsicles12.

  • From: Singapore, India, Chennai
  • Registered: 05/02/2009
  • Posts: 6,089

Re: Entering Begining Balance

Use a Journal Entry with all opening balances as of the last day of the previous finscal year and close that and ll will be fine for the current fiscal year.

apmuthu's Website

  • Registered: 05/26/2010
  • Posts: 6

Re: Entering Begining Balance

I had an opening Balance with different Banks, I used a journal to capture the opening balance . Unfortunately I can only see the balances of the bank with the same currencies as the default currency, the rest are showing 0.00.

How do i go about inputting the journal or Opening Balance for difference currencies in the banks.

  • From: India, TN, Karur
  • Registered: 05/16/2014
  • Posts: 1,182

Re: Entering Begining Balance

From FA  there is no multi currency in bank accounts. 

Every single bank account works with one currency.  If you are looking to apply different bank accounts with different currency that possible to create it.

If possible go with separate bank accounts and apply currency to create it.

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kvvaradha's Website