Setting an opening balance for a bank account

1

Hi

I’m a public accountant in Australia looking for a simple accounting program for one of my clients.

I’ve downloaded Manager and have creatd a journal entry. And a simple bank account transaction. Then a Profit & Loss Statement from that single journal entry.

This is probably a silly question but how do I enter an opening balance in a bank account. Yes I know the guide says that I do it in settings somehwow, but all I see there is Bank rules. Not where I can actually enter a dollar amount.

Also, if I want to prepare a journal entry that involvesd an asset or liabliity. how tdo I select the asset or liability? In the journal entry I mentioned above, only expense items appear. Plus Undistributed profits. No Balance Sheet items.

Thanks

hbeedee

2

you enter the starting balance on the edit screen of your Bank Account and not under Settings.
read this guide Manager Guides

do you have any assets and liabilities account defined which have transactions in them?

3

Go to 0 Settings tab> 0 COA Button to create accounts.

BS some inbuilt Control Accounts can’t be accessed via Journals

4

OK Thanks for your quick reply.

My Reply to Comment 1

I read that guide note before I posted my question. And that’s the method I followed. I set up the bank account details and put a tick in the Opening Balance box. A message appeared that I can enter a figure in Settings

I then went to Settings and looked for where I enter the Opening Balance figure. No appearance. Only the heading about Bank rules. I’m assuming it’s not that?

So my question stands. How and where do I enter the opening balance?

My Reply to Comment 2

So I assume I first need to set up all my Balance Sheet Accounts first? Have you a link to the guide on that please?
.
Thanks

5

the guide has an image which clearly shows where you need to enter the starting balance. and its just below where you checked the tick.
image

this will appear if you have set a start date for your business which is under Settings (not the starting balance).
read this guide about setting a start date for your business.
https://guides.manager.io/9783

read the below guides on your chart of accounts.
https://guides.manager.io/8965
https://guides.manager.io/9181

6

Sorry but the section that you refer to about entering the opening balance does not appear on my screen. It simply isn’t there. Here’s what I see

*Starting balance
You will be able to enter starting balance once you set Start date under Settings tab".

Below that s the key to create the account.

That’s all. Nothing else. This is why I’m asking the question. What the guide sauys and what I’m
seeing are different.

7

All is good. I’ve worked it out. I needed a start date first Then it all appeared. Thanks very much