By using this feature user can set the opening balance of the Organization in it.
The Opening balance is the amount of funds in a company’s account at the beginning of a new financial period. It is the first entry in the accounts, either when a company is first starting up its accounts or after a year end. The opening balance may be on the credit or debit side of the ledger.
Accoxi is most modern accounting software that provides easy and deliberate results for accounting. It provides the function of Opening balance settings and user can set the opening balance of the Organization in it.
Open the Accounts menu, click on Opening Balance and then it opens to Opening Balance page.
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Fields |
Description |
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Ledger |
It shows the details of all Ledger and it automatically displays on the ledger column. The column will be block and User can’t edit or change the name on this field. |
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Debit |
Debit is an entry recording a sum owed, listed on the left hand side or column of the account. User can select the ledger and enter the debit amount on the field. In some cases user can’t edit or change the amount if the transaction of that particular ledger already started. In such cases the field will be blocked one. |
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Credit |
Credit is an entry recording a sum received, listed on the right hand side or column of an account. User can select the ledger and enter the credit amount on the field. In some cases user can’t edit or change the amount, if the transaction of that particular ledger already started. In such cases the field will be blocked one. |
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Refresh |
If the latest data is not displayed, click on the refresh icon on the top right corner of the page to fetch the new data. |
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Export |
The Opening balance data can be export to Excel format. Click on the Export button at the bottom left corner near the. Select the file location and click on save. |
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Total |
It shows the total figure of all the debit and credit values and the sum total will be automatically appear on both field. |
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Balance |
It shows the amount difference between debit and credit balance. Debit balance shows with (Dr) and credit balance shows with (Cr). |
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Save |
Save menu is to save the details that entered and to change the opening balance. |
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Exit |
Exit menu is using for go to the previous page without saving the changes. |
Filter option is available below the ledger search bar at the left hand side. Ledger can be filtered based on account group and ledger name. Either you can give any of the said criteria directly into the search bar near filter option or by clicking the filter down arrow option you can give the details into the fields directly.