Not-for-Profit entity opening balance work sheet

Information from the old system (or spreadsheet) will be required for the the last day of the prior year; the opening balance date.

Use any of the work sheets that are relevant. Each is related to a part of the opening balance control panel.

NOTE: The user may print a hard copy of this check list by clicking on the green PRINT button.

work sheet - tangible fixed assets(for use by the charity)
Asset Fund Cost Cumulative depreciation Net Value
work sheet - tangible fixed asset investments
Investment Fund Cost Cumulative depreciation Net Value
work sheet - customer invoices
Customer Ref. No Date Payment due Amount
work sheet - supplier bills
Supplier Ref. No Date Payment due Amount

For other asset and liability balances the opening balance control panel has data entry blocks of

If an account does not exist but is needed for data from the old system add from either the system accounts of set up a custom account. For more information see Chart of Accounts

work sheet - asset balances
Account Amount Fund
Long term investments
Asset disposals leave blank if the account exists
Gift aid pending
Loans to staff
Short term investments
work sheet - liability balances
Account Amount Fund
Asset additions leave blank if the account exists
Payroll liabilities
  • Attachments and other court orders
  • Class 1A NIC
  • Employee NI
  • Employer NI
  • Expense claims
  • Misc payroll deductions
  • PAYE
  • Pensions
  • Student loan repayments
  • Wages and salaries
Sales deposits received
  • Fund 1
  • Fund 2
  • Fund 3
  • Fund 4
  • Fund 5
  • Fund 6
  • Fund 7

Mid-year opening balances and prior year comparatives for income & expenditure

In order to have a SoFA complete with prior year comparatives as well as an opening balance position for the current year; figures by fund must be entered. Enter amounts at the account level detail required. Note amounts entered in child accounts are accumulated into parent accounts and will be added to any values entered at the parent account level.

Income and Expenses balances are entered by clicking on the Income Balances and Expense Balances button on the control panel

Click on each line item and a dialogue box opens to allow opening balances and comparative balances to be entered by fund.

A worksheet to assist in collecting comparative and opening balance information by income account can be found from Income Comparative/Opening Balance worksheet.

Similarly a worksheet for expenditure is available Expenditure Comparative/Opening Balance worksheet.

Print out as often as required.