Setting Up Beginning Account Balances

When applicable, enter the beginning balances for your accounts. To enter beginning balances for accounts:

  1. Open the Journal Entries form.
  2. In the Journal field, select General.
  3. Click the filter-in-place button.
  4. Select Actions > New.
  5. Create an entry for the first account's beginning balance. In the Reference field, enter Beginning Balance.
  6. Repeat steps 4 and 5 for each account for which you need to enter a beginning balance.
Note:  You cannot post unless the debit amount equals the credit amount for each period.