Update the initial balances

Update the initial balances

To update initial balances in the new fiscal year (in the following fiscal year):
  1. Open the Loopback page: Configuration menu, Loopback .
  2. Click the Update Initial Balances button:



  3. When the action is performed, a green indicator is displayed and the Last Execution and Executed By columns are automatically updated.

    1. Last execution: Displays the date and time of the last execution.
    2. Executed by: Indicates the name of the user who performed the last operation.

  4. The initial balances have been updated in the new financial year:



Info
On the Loopback page, the Configure button The "Update opening balances" action opens the Opening Balances page for the following fiscal year: