This form is the place where you can set up starting balance for bank or cash account.
The form includes the following fields:
There are following fields:
Select the bank or cash account for which you want to set a starting balance.
Starting balances are used when you begin using the software with existing bank account balances.
Enter the cleared balance from your bank statement as of your start date.
This should be the actual cleared balance shown on your bank statement, not your available balance.
Important: Do NOT include pending transactions in this balance:
• Outstanding checks should be entered as separate payments with pending status
• Deposits in transit should be entered as separate receipts with pending status
• This ensures accurate bank reconciliation when pending items clear
The starting balance date is typically the day before you begin recording new transactions in the system.