Configure the opening balance entries
The opening balance entries for the opening balance sheet are generated automatically based on the entered parameters. To configure the opening balance entry parameters:
- Access the initial balances page: Menu Configuration , Initial and previous balances .
- On the Initial and Previous Balances page, activate the Options tab and fill in the fields :
- Accounting text : Accounting description associated with the entries for the opening balances .
- Journal : Journal of entries for the initial balances .
- Opening balance : Contra account used when creating the entries for the Initial Balances.
To generate the opening balance entries, refer to the article Creating opening balances in a new company .