To Enter Opening Balances for Bank Accounts

1. Open the Cashbook folder or click the Financials tab on the Ribbon Bar and then click Cashbook.

2. Click Utilities and then click Opening Balances.

3. At the prompt 'Do you wish to continue Opening Balances ?', click OK. The Find Bank Account form is displayed.

4. In the From list, click to select the bank account you want for opening balance entries and then click OK. The Opening Entries form is displayed.

5. Complete the details for the Input By and Date boxes. The bank account's unreconciled balance is calculated from journals in the Nominal Ledger for the bank account. Then click OK.  

6. At the 'Do you want to update balances automatically?' prompt:

   1. Click Yes if you do not want to create entries in the Cashbook to reconcile with the bank statement  for the bank account. The unreconciled balance is then updated on the bank account but no transactions are displayed in the Cashbook.

   2. Click No to create entries in the Cashbook to reconcile with the bank statement  for the bank account. The Opening Balances detail form is displayed. Then create the opening entries by updating the Cashbook types, values, Nominal Ledger accounts and comments. This is a way to record which account to allocate each entry to but the Nominal Ledger is not updated with these details. When you have completed all transactions required, press ESC.

7. To update the bank account with the entries, click OK.

8. At the 'Print Cashbook' prompt, click OK to print an audit report of the opening balances made.