Opening Balances

Ensure that the correct Financial Year is selected.

The user selects the Financial Year  by Left Clicking on the Drop Down List Box (). When this is done a list of available Financial Years  will be displayed.

 

Select the applicable Business Unit for which set of books Opening Balances are to be entered for by Left Clicking on it in the Drop Down List Box (). When this is done a list of available Business Units will be displayed.

 

Should the user want to enter a New Business Unit, it is done by Left Clicking on the Add  Button (). When this is done the Add Business Unit Page will be displayed (Refer to Add Business Unit).

 

 

Enter Remarks in the remarks text box.

 

Left Click on the field and enter the Opening Balance Value of the Account. Use a + sign before the currency value to indicate a debit balance, or use a - sign before the currency value to indicate a credit balance.

 

Enter all non zero balances for all Accounts.

 

Enter a Reason for this entry if applicable.

 

Note:

Debtors & Creditors Control Accounts (Accounts Receivable and Accounts Payable) as well as individual Debtor & Creditor Accounts are not displayed in Opening Balances.

 

If the Debtors & Creditors Control Accounts are not zero, then the Control Total will NOT be zero, but must then be equal to the sum of the two control accounts!

 

The Debtors & Creditors Control Accounts can be zeroed on a later stage by means of journal entries against the Debtor & Creditor Accounts.

 

Use the Scroll Bar to page up or down in order to enter ALL non zero opening balances for ALL accounts (except Debtors & Creditors Control Accounts).

 

When ALL non zero Opening Balances for ALL the Accounts (except Debtors & Creditors Control Accounts) are entered, this Control Total MUST be zero! (Or equal to the sum of the Debtors & Creditors Control Accounts).

 

To Save the Opening Balances, Left Click on the Process Button when  ALL non zero Opening Balances for ALL the Accounts (except Debtors & Creditors Control Accounts) are entered, AND the Control Total is zero (Or equal to the sum of the Debtors & Creditors Control Accounts).