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