Forum Message

Opening balance for income and expense accounts

I'm trying out Solar Accounts and I've taking my balances from my previous software and have input them into the opening balances of all the accounts in Solar Accounts.

But when I run a P&L report it's empty! The Balance Sheet shows all my figures as I would expect and it has a value in the current earnings box so it's worked out the P&L.

Have I done something wrong in setting up the opening balances for the income & expense groups?


Posted by Peter Sewell on Nov 25, 2009 9:17 PM GMT

Hi Peter,

Solar Accounts assumes the 'opening balance' of accounts have been carried forward from a previous financial year, so these amounts won't affect the Profit and Loss report. Instead, create a General Transaction which debits and credits the appropriate income and expense accounts (tick 'Multiple Accounts' in the transaction window).

Regards,


Posted by Mark McLaren (Solar Accounts) on Nov 26, 2009 10:22 AM GMT