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Thread: Taking on balances for a new Company

  1. #1
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    Red face Taking on balances for a new Company

    Hi

    I would really appreciate and help, how do I load balances on a new company.

    I do know it has to be done in Journals but for some reason I put it in and out at the same time

    Regards
    Gwennie

  2. #2
    Diamond Member Mike C's Avatar
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    Hi Gwennie.

    First make a backup so that if things do not work as you would expect, you can restore your backup and start again.

    Go to Process - click on Journals. Select General Journal.

    Click on Settings. Confirm the relevant options (select the relevant suspense account as the contra account)

    Deselect "This Year Transactions" so that you are processing in last year. Click on close.

    Enter all the general ledger balances off the Trial Balance, as at the last day of the previous financial year.

    Just remember that once you update a batch, the setting reverts to "This Year"

    Print the batch and update.
    People will forget what you said, people will forget what you did, but people will never forget how you made them feel. - Maya Angelou

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