How do I post opening balances?
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Contents
Summary
The following article explains how to post opening balances on your Sales Ledger and Purchase Ledger.
More Information
If you are new to Platinum, and you have our accounts package, you will need to post a single opening balance for each of your customers and suppliers.
 | If you are Cash Accounting for V.A.T., please see this article for guidance on posting opening balances. |
Posting Opening Balances
Go to {Sales Ledger for Customer balances or Purchase Ledger for Supplier balances.
- Select " Sales/Purchase Ledger Postings".
- At "Doc. type", choose 'Opening balance'.
- At "Customer/Supplier", enter the Customer/Supplier account code, or search for their account.
- At "Date", enter the first of the month that you started using Platinum for your accounts.
- At "Comment", enter 'OB' for opening balance and <Enter>
| This will take you straight down to the "Totals" field. |
- Enter the value of the opening balance.
 | If the customer is in credit with you or you are in credit with the supplier enter the value as a negative value. |
- Click [Done] and 'Accept' to save the posting.
Adjusting Opening Balances
If you find you have made a mistake you will need to post an adjustment against the Opening Balance to correct the transaction value.
See How do I adjust an account opening balance? for guidance on how to proceed.
See also
- How do I enter an opening trial balance?
- How do I adjust an account opening balance?
- Recommended accounting routines
