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Edit or delete an opening balance for categories

Created on  | Last modified on 

Summary

How to edit or delete Opening balances for categories in Accounting Start.

Description

Make changes or delete a previously entered opening balance for a category.

Resolution

Edit or delete the opening balance

  1. From More, then Business Settings, find the Opening Balances section.
  2. Select Category opening balances.
  3. Find the relevant category.
  4. Do one of the following:
    • Change the amount in the Debit or Credit column
    • Delete the opening balance using the bin button next to the relevant entry
  5. Select Save.

How your ledger accounts are updated

The total value of all opening balances must balance to conform to bookkeeping rules.

This means the total amount of all the values in the Debit column must equal the total value of all the values in the Credit column.

When the Debit and Credit total don't match, we add the difference to the special Opening Balances category (9998), which is used for this purpose.

In general, your opening balances should balance. If there's a value on your Opening Balance category, check you've entered the values from your trial balance, for your bank accounts correctly.