The purpose of this guide is to help you understand what has to be done on advise by you accountant for further Journals to put Balances on the correct GL Accounts.
This is for advise only and please contact us or get you accountant to contact us if you need any further information at all. This step is after the Initial Entry Opening Balances http://service.autosoft.com.au/entries/21506700-How-to-Do-Initial-Entry-Creditor-Debtor-and-General-Ledger-Opening-Balances- have been done to allocate the balance now on the Initial Entry Holding Account to where it should be.
With Autosoft, all Journal Entries must be 2 sided so now that you have balances on the 9000 GL Account, you can now allocate them to the GL in which they should reflect on the balance sheet.
For example; The Balance of the Bank Account
This is the Opening Balance Journal done so Bank Rec could be Processed;
This now needs to be split out to where the opening balance originally came from;
As explained, this is an exaqmple only and the amounts should be entered then compared to your previous systems Balance Sheet to make sure you have entered them correctly. If you need assistance please call us.