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How to add opening trial balances

#1

Hello
I would like to create opening balances for 01/04/19. The balances I would like to include are;

  1. share capital
    2.p/loss account
  2. p/machinery
  3. p/m depreciation
  4. m/vehicles
  5. m/v depreciation
  6. directors loan account
  7. bank current account
  8. vat liability
  9. sales debtors outstanding
  10. creditors outstanding

please can you advise how to do this.

Many thanks

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#2

Hi @Fwrp,

This guide may help you :slight_smile:
Importing data from another system

Hope this helps

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#3

hello thank you for your reply
I have used the “opening balance entry” journals but I am not able to save the journals as the creditors and debtors don’t balance.
They don’t balance, they are opening balances for 01/04/19 only
please can you advise? thank you

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#4

QuickFile is a double entry book keeping system so everything has to balance somehow - you’ll need to put the balancing entry somewhere like “retained profit” in the capital section (I’m not an accountant so check with a real one if you want to be sure).

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closed #5

This topic was automatically closed after 7 days. New replies are no longer allowed.

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