1. Creating the opening entries

Via Journal Add Add opening entries the dialog is opened. The opening entries are a predefined collective entry on 9100 opening balance sheet.

At the bottom you see the total debit and the total credit, and their difference. You can only save when the debit and credit are cleared, that is, the difference is 0.00.

You can only work with one currency in a collective posting. For opening postings in a foreign currency, create a new collective posting to 9100 opening balance sheet.

Things to know about opening entries

Such opening entries need only be made once, when the accounting is started. The opening balance sheet is calculated automatically for each accounting period, and thus no more opening entries need to be made for subsequent years.

Here is the link to our documentation.