How to Enter Opening Balance

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An opening balance is the amount of funds in an account at the beginning of a new fiscal period.

Enter Opening Balance:

  • Go to Double-Entry on the Navigation menu.
  • Select Manual Journals from the expanded menu options.
  • On the Manual Journals page, click New Manual Journal.
  • Enter the Date, Currency and write a Description.
  • Use Add a Line to add a transaction to the Manual Journal.
  • Select the account type as Cash, and record the amount in Debit.
  • Add another transaction with the Account type as Owner Contribution/Equity. Record the same amount as Credit.
  • Then, Save.


  • If the opening balance account (first) is an Asset (i.e., accounts receivable, bank, credit card), enter the amount as a Debit.
  • If the opening balance account (first) is a Liability (i.e., accounts payable), enter the amount as a Credit.
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How to Enter Opening Balance

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