Receipts and Payments Funds Opening Balances

A Receipts and Payments Basis 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.

For an accurate SOFA for any entity that has transferred from another accounting system, i.e. not a new charity; any required opening balances will need to be entered. It is not necessarily the opening balances from the Income and Expenditure report so specific receipts and opening balances are entered.

Opening Balance At

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

Opening Balance

Opening balances must be entered via the opening balances routine.

Control - Opening Balances - R&P Fund Balances

Enter the opening balance on a Receipts and Payments basis.

Click on the SUBMIT button to store the details entered as part of the opening balance process.

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