cancel
Showing results for 
Search instead for 
Did you mean: 

Entering opening balances..

Former Member
0 Kudos

About entering opening balances...

Enter credit balances AS +VE

Enter debit balancs AS -VE

BUT, is this dependent any bit on the Display Credit Balance with Negative Sign in the basic initialisation tab ?

If this option CHECKED, will the opening balances entering technique be reversed... ie to say.. Enter Credit Balances as -VE and Debit as +VE ?

Please share your thoughts as well..

Accepted Solutions (1)

Accepted Solutions (1)

former_member583013
Active Contributor
0 Kudos

The better way to enter the Opening balances atleast for the G/L's would be through the Journal Entry window. This is what internally is going to be done when you use the Opening Balances screen.

The JE screen would give you a better clarity and there would not no need to worry about negative and positive sign's.

The system would internally take care of the way it posts depending on your setting

Suda

Answers (1)

Answers (1)

Former Member
0 Kudos

Hi Gautam,

I think, you have done the things reverse way because you need to enter the opening balance of debits values (i.e Assets , expenditures) with +ve & credit values (i.e liabilities, revenue) with -ve sign. The display setting of negative balance doesn't have any relation with balance uploading.

Hope this will help you.

Regards,

Abhishek