Opening Balances

I need to start new business and want to enter all my old balances in new business like receivables payable bank last balances how should i enter these all things.

Hi @adeelsheikh1,

I’m fairly new at using Manager, but not to accounting in general. So I’ll make my best attempt to answer your question.

Read the guide found here: Manager Cloud.

In the referenced guide it is explained that when opening a set of books for a business with beginning balances, as you have specified, you would opt to input a starting date in Settings > Start Date. Once you have done that you can enter the ending balance value of your AR, AP, and bank balances from your old system as beginning (opening) balances in the new system.

Under the subheading of Notes it is stated:
“Transactions dated prior to the start date will be ignored by Manager, except earlier sales and purchase invoices will be used to establish opening balances in Accounts receivable and Accounts payable, respectively.”

So if your books are being opened on 01/01/2018, you would use the start date of 01/01/2018. You would then enter your prior period AP and AR invoices with the original dates.

I hope that helps.

The first thing to do is to design a chart of accounts. Manager Cloud

Also read these Guides: