Entering beginning balances to the accounts

Entering Beginning Balances: 

To enter the balances of last month press the button “begenning balances” from the chart of accounts window:

 A window will appear asking to select the month of the beginning balance. Select the previous month of from the current month. Reason behind this is that you have trial balance of the last month. Suppose this is the month of February when you are entering balances, select the month of January, because you have the trial balance of January.

After this window will appear, click the button ‘OK’ for further proceedings. After clicking the button ‘OK’ the following window will appear that will be mentioning the accounts name which you have made. In front of them there will be boxes in which you have to enter the beginning balances. Do remember that the balance of the asset and expenses side should be equal to the liability, equity and income side.

Now enter the balances in this screen:

Your trial balance amount should be equal to zero, and the balance of the assets & expenses side should be equal to the amount of liability, equity and Income side