This function allows you to maintain your opening balance. It is used to input your current balance of your accounts when you start to use the system.
To access Opening Balance, click on Account Book Setting > Opening Balance.
Keying in Opening Balance
1. At the grid, directly click on the “DR” or “CR” column of the account to key in your balance amount. Do make sure that you are keying on a child account as parent account are not allowed to key in anything.
*Column that allows input are highlighted in blue.
2. For Debtor and Creditor account, it will be slightly different. Search for your Debtor or Creditor that you want to key in opening balance and click on the “DR” or “CR”.
*This example will show you are owing your Creditor (Supplier) and what you need to do.
3. Another dialog will appear. Click on the “+” button to add line.
4. Key in your outstanding invoices which you are still owing your supplier.
5. Click “OK” once done.
6. You will notice the opening amount of the supplier will be updated.
7. Repeat above steps (1 to 6) and key in all require accounts including Debtors and Creditors. In the end your DR and CR amount should be balanced.
8. Click “Save” to save your opening balance.
9. System will prompt and ask if you wish to lock the opening balance. Click “Yes” if you wish to lock your opening balance so that it cannot be edited by others in future.
For Year-To-Date scenario (Actual Start Date not same with Fiscal Start Date), the Opening Balance will show your Profit & Loss accounts as well. You will need to input your latest accumulated balance of each account into Opening Balance.
Print Opening Balance
You can print Opening Balance for reference or any other purpose.
1. Click on the “Print Report” button to print Opening Balance.
2. A small dialog will appear. Select Report Name, define your options and click “OK”.
3. The report will be generated based on your selection.
4. You can now print or export to the format that you want.
Lock / Unlock Opening Balance
You can lock or unlock Opening Balance. Usually Opening Balance is locked after confirmed to prevent any editing. However, you can still unlock it if you found any figures is input wrongly and wish to amend.
Assuming you had locked your Opening Balance when you save it. You can unlock by the following steps:
1. Click on the “≡” icon.
2. Select “Lock Opening Balance”.
3. A small dialog will appear. To unlock, untick the “Lock Opening Balance” checkbox and click “Save”.
4. After saved, you will realize the lock wording disappears. You can now continue to edit your Opening Balance.