Opening balances are the balances in the company’s accounts at the beginning of a specific period of time.
How to Enter Opening Balances
STEP 1: Go to Transactions⇒ Account⇒ Opening balances
The Opening Balance Entry Page will open.
STEP 2: Type the name of a ledger CLICK on SEARCH the associated ledger will appear, update the opening balance, select the Dr/Cr from the dropdown, and press the tab.
STEP 3: Or type “All” in the search ledger column CLICK on SEARCH all the ledger created will appear.
STEP 4: Enter the associated amount in the opening balance textbox for all the ledgers you wish to and PRESS TAB.
STEP 5: All the data entered will be saved automatically you will get to know that because a green box will appear at the right corner of your screen.