How can we add Opening Balance for Bank Account?

1

Hi All,

I am using Desktop version and not able to add any fields from where we can add opening balance. Do we have such feature in this accounting software?

I have seen some of the older forum but still not able to see such features in Desktop version.

Can someone guide me on this?

Thanks.

2

https://www.manager.io/guides?bank-and-cash-accounts

The guides should give you all the information you need for setting up manager.
You may have to jump between the new guides ( a work in progress ) and the old guides for some things.

3

Thanks for quick response.

For Bank and cash account it looks fine.

But How can we define Opening balance for Investment, Debtors, Fixed Property, Others Assets and Liability, etc…?

4

So overall there is a workaround for Opening balance showcase is Journal Single Entry only.

But In the balance sheet that will show as “Suspense” under Equity account.

But overall good accounting process experience so far with this software.

5

You must resolve the Suspense account issue. See https://www2.manager.io/guides/7106 Specifically note:

Any balance in Suspense signals a problem. Never attempt to clear the Suspense account with a journal entry. That only hides problems and usually makes both your Balance Sheet and Profit and Loss Statement inaccurate. Problems that caused transactions to post to Suspense must be identified and corrected.

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