Forum Message

Opening Balances

I have set up a new account and transfereed the balance sheet items from Quickbooks.
As I am mid way through the financial year I have adjusted the chart of accounts to suit my purposes including those previously used in QuickBooks that have current postings but find that I cannot enter an opening balance on either the income or expense items in Solar Accounts.
Is there a way of entering opening balances for expenses and incomes, if not it will mean that either Solar Accounts cannot be used until the beginning of the financila year or that the years accounts will be spread over two computer programs which is not convenient or practical.


Posted by Derek J Taylor on May 18, 2009 6:59 AM BST

Hello Derek,

As it happens we are about to release a new version of Solar Accounts which allows you to directly edit the opening balance for all accounts. We hope to make this available today or tomorrow - I'll let you know when it's available.

If you don't want to upgrade to the new version you will need to create an opening balance transaction. To do this, click menu File > New > General Transaction > Multiple Accounts. Then enter the opening balance for all income accounts in the 'From Account' table and the opening balance for all expense accounts in the 'To Account' table. You will also need to debit or credit the 'Balancing Account' in one of the tables to balance the transaction.


Posted by Mark McLaren (Solar Accounts) on May 18, 2009 9:23 AM BST

Hi Derek,

The new version of Solar Accounts is now available here:
http://www.solaraccounts.co.uk/download.php

This will allow you to directly edit the opening balance of Income and Expense accounts.

Regards,


Posted by Mark McLaren (Solar Accounts) on May 18, 2009 3:34 PM BST

Mark,
I beleve you peviously stated that this program did not have a jouirnal facility but it does and a very good one too


Posted by Derek J Taylor on May 18, 2009 7:05 PM BST