Opening The Books: Entering GL Opening Balances

You can enter or update the financial year General Ledger opening balances over here.

Pick the year start date and click Get Details. This will list ALL accounts for the Organisation, not just the Balance Sheet accounts.

Enter the opening balances for every account from the previous year’s audited books. Accounts are automatically selected for update as you enter the balances.

*By default, all accounts will show CREDIT for the type of balance. Make sure to change it to DEBIT wherever applicable

You must update all accounts at one go and click Create at the bottom of the screen to save the balances.

*If the total debits and total credits do not match, the balances will not be saved. The system will warn you of the imbalance and you will have to enter ALL balances once again. Therefore, make sure to enter all balances correctly, including the type of balance (Dr./Cr.), to save time and effort

You can export the balances, once they have been saved, using the Export to Excel link on the top of the screen.