Opening Balance - Pastel Express V11

[Melissa (ALU)]

Hello!

Our company has just started making an income and we are now using Pastel. I want to open all accounts from 1 Jan 2015 onwards.

Our bank account was active already but I want to create an opening balance in Pastel for 2015/01/01.
How to I do this? - via journal and which accounts to debit/credit? (Sorry, very new to Pastel)

TIA

[Mike C]

If the new financial year starts on 1 Jan 2015, and you have closing balances as at 31 December 2014 that you want to take on, then open the General Journal, go to the Settings button at the bottom, and untick the box named "This Year Transactions", then click on Close. You will then see the words "Last Year" in red at the bottom of the journal. Now, select period 12 of last year, and capture the entries there using ledger account 9990/000 "Take on Balances"

(taken from an earlier post by Neville Bailey - with relevant dates changed)

[Melissa (ALU)]

Thank you Mike!