I need help with my receipt and payment summary. I have an item called cash at the beginning of the period with an amount. But I did not indicate any such amount at the beginning of the financial period. What might be the cause of that amount showing? See picture below:
So what exactly do you want to know? Can’t got you.
This report has some of the characteristics of a classic cash flow summary. The idea is it tells you how much cash (and equivalents) has come into and gone out of the business during the defined period. By reporting how much you had at the beginning, the net change can then be used to determine how much you have at the end. (In your example, you where in a negative cash position at the beginning, possibly through something like a credit card liability.)
The amount is not something you enter. It is calculated by Manager based on all previous entries affecting cash and bank accounts.
Thanks @Tut that was helpful. I think I understand how that amount showed up as a negative figure from the beginning. We started the business incurring some cost without any opening balances.