DESKTOP EDITION CLOUD EDITION SERVER EDITION GUIDES FORUM

How to set opening balance of cash on hand


#1

I am new to accounting and let’s say I started a business with $100 in hand how do I key this in cash in hand as I am only able to create but not able to edit the amount it stands at 0.


#2

You should be able to edit opening balance amount for cash account. Can you show some screenshot how it doesn’t let you? Where are you looking?


#3

Basically before I start creating any income and expenditure, I wanted to input that business capital / investment is 80,000. Should I be keying this amount in journal or click create new cash account and e.g. name as Cash in Hand. When i create the amount is not editable. It stands at 0.


#4

You can click on cash account name under Cash accounts tab which will give you list of transactions in it.

Since you didn’t enter any transaction, you will see only one transaction which is called “Opening balance” and which you can edit.

Have you tried that?