Hi, I started using Solar as a trial and entered transactions and invoices before entering opening balances. I liked Solar so much I bought it and continued to use it. Now however I have to enter the opening balances for the last years accounts. I changed the Financial year date to last year and entered the balances which have put a large amount on the Balancing account. How do I get the Balancing account back to 0 and show last years profit & loss? Hope you can help. Thanks Sophia
Hi Sophia,
You will need to enter the income and expense balances as a General Transaction as described here:
http://www.solaraccounts.co.uk/forum/topic.php?TopicId=1141&Posts=1
If you are still left with a non-zero balancing account, you can reduce it to zero by increasing the opening balance of one of the other equity accounts (eg. Owners Capital).
Regards,