How to enter opening balance

Hi,
its urgent,
I am feeding my all data as of 1st jan 2013. and not getting how to enter openning balance (Or what entry should be there) for all accounts like capital, loans liability etc…

Hi,

Follow this link http://erpnext.blogspot.in/2011/02/how-to-create-opening-accounting.html



Best regards,
Prakash Hodage

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ERPNext - World’s most affordable ERP.
https://www.erpnext.com

Hi Gowrav,

There is two options to enter opening balances.

1. Make JV :
  • Debit asset accounts and credit "Temporary Account (Liabilities)"
  • Credit liability accounts and debit "Temporary Account (Assets)"
  • If you closed balance sheet properly in last year (Assets=Liabilities) and you are entering all the balances in a single JV, then you can ignore entering against "Temporary Account".
  • Mark "Is Opening" field as "Yes" and set "Aging Date" as actual posting date in past year (optional: applicable for customers and suppliers for aging report)
  • You can post the entry on last year date as well, in that case do not need to mark "Is Opening" field as "Yes"
  • Submit the JV

2. Use Voucher Import Tool to upload opening balance
  • Download template
  • Enter the data as per instructions in the template
  • Upload the csv file
  • It will create a JV automatically

Regards,
Nabin Hait


On 02-Jan-2013, at 5:52 PM, Prakash Hodage wrote:

Hi,

Follow this link http://erpnext.blogspot.in/2011/02/how-to-create-opening-accounting.html



Best regards,
Prakash Hodage

---------------------------------------------------------------------------------

ERPNext - World’s most affordable ERP.