But there were payments against March and earlier invoices. These have already been accounted for in my existing spreadsheet system. How do I set opening balances?
Hi,
To enter your bank accounts opening balance, go to your bank account in quickfile, click Options and Settings. Or have a look here: Setting up your bank accounts.
When entering a opening balance you have to tell quickfile from where the opening balance is coming. Most of the time it is Retained Profit or Money introduced or Loan. You do this with Journals
To enter opening balances for suppliers and clients, you can do that when you create a new clients/supplier or if you want to do a bit later you have to create a journal.
If you have your last financial years closing balances in a csv file you can also upload the file to quickfile or enter them manually. Have a look here: Importing data from another system
Hope this helps
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