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Former Member
Nov 29, 2008 at 02:26 PM

Opening bal. Account - should'nt it be zero ?

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Hello All,

i have an opening bal account set up in the extraordinary drawer (and is marked as other amongst the options sales / expenditure / other).

However, i expect that once ive entered the dr / cr balances, the total balance of this account shoudl be zero. (the balance sheet which im using is fine)

My understanding is once the debit balances go in followed by the credit balances, they should offset each other to make the opening balances account balance as ZERO.

Please share your thoughts on this.

Thank you

Cheers,

Gautam