Opening balance

[rawandmoreshack]

Hello, how do I start using QuickFile with an opening balance

Regards

Gary

[FaradayKeynes]

If you are moving from another accounting system with opening TB? This should help.

[rawandmoreshack]

No not moving from another accounting software, but I do have an opening balance and need to know how to account for it

Regards

[QFMathew]

Hi @rawandmoreshack

If these are nominal opening balances (e.g. previous sales and purchases), you can enter opening balances by going to Account Settings >> All Settings >> Enter Opening Balances.

If they are just bank opening balances, you can modify a bank account and add these in there. This will create a journal and you’ll need to adjust the journal to account for the origin of the funds (e.g. directors loan, etc.)