Funds Opening Balances

An opening balance for each fund displayed must be entered to ensure that the SOFA is accurate. The opening balances that you input must represent the financial position of your entity on the day you start entering live transactions.

Opening balances must be entered here even if you report on an Receipts and Payments basis.

Opening Balance At

Enter the date to which the opening balance amounts are related.

Postings Analysed to Funds

Any figure here represents the sum of all transactions, including any entered before the start of the first accounting period, put onto the system and analysed to the Fund. It will be zero if nothing has been entered as yet.

Opening Balance

Enter the opening balance figure. When all Funds have been populated with opening balances the value in Discrepancy should be zero.

Click on the SUBMIT button to store the details entered as part of the opening balance process. In accounting terms the other side of the accounting entry is posted to "Suspense".

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