Opening Balances of Other Assets

The trial balance may well include items such as Stocks, Investments and other debtors, these are input via the Balance Sheet Assets Screen of the Opening Balance Control Panel.

Control - Opening Balance - Asset Balances

Obtain data from your existing accounting system or your advisor. For each asset account, other than Tangible Fixed Assets and Trade Debtor, the balance as at the opening balance date.

The Opening Balance Asset Screen follows a simple input routine. The screen will display all asset accounts that are currently available. If a required account is missing either add from the standard list or create a custom account.

Click on an account and a dialogue appears showing the list of Funds each with two columns.

In the second column enter opening balances for each fund that is relevant, the total of course must be the account opening balance. A user may enter any Comparative figures in the first column for reference and certain reports.

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 the Suspense Account

When all balances have been entered click on SUBMIT. Amendments may be made subsequently by returning to the Screen.