How to Add Opening Balance in Accoxi?

By using this feature user can set the opening balance of the Organization in it.

Opening Balance

Opening Balance

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.

Opening balance in Accoxi

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.

Opening Balance (1)

Opening Balance

 

Click on the Settings menu on the top right side of the page. Then list of settings tab will open.

Select the option Opening Balance from Accounts option, then it opens to Opening Balance page.

Opening Balance 1

      Fields

                                 Description

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.

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.

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.

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. 

          

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.

      

Total

It shows the total figure of all the debit and credit values and the sum total will be automatically appear on both field.

Balance

It shows the amount difference between debit and credit balance. Debit balance shows with (Dr) and credit balance shows with (Cr).

Save

Save menu is to save the details that entered and to change the opening balance.

        

 

Exit

Exit menu is using for go to the previous page without saving the changes.

          

Frequently Asked Questions?

01How do I enter opening balance for my cash account?

  • Click on the Settings menu on the top right side of the page. Then list of menus under settings tab will open.
  • Select the option Opening Balance from General settings option, then it opens to Opening Balance page.
  • enter debit/credit opening balance to the corresponding ledger account
  • click on save

02How do I export the opening balance data?

  • Click on settings => opening balances
  • Click on export button on the bottom left corner
  • Select the file location, name, type and click on save.

03How do I filter ledger in opening balance window?

  • Click on the settings => opening balances

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.