Note: Your Opening Balances should be set as of the last day of the period before your FINSYNC Accounting Start Date. To find your FINSYNC Accounting Start Date, (Click Here)
Entering your opening balances is easy. Follow these steps:
1) Login to FINSYNC.
2) Click the "Reports" tab in the top nav.
3) Click "General Ledger" in the left nav to expand the options.
4) Click "Opening Balances" in the expanded list under "General Ledger."
5) You will see a table of your Balance Sheet accounts and the current Opening Balance for each.
6) To make adjustments, click the row that you want to edit and the Debit and Credit fields will let you enter a balance.
7) Once you have entered the opening balance for that line item, click "Save." If you change your mind and do not want to edit that row, click "Cancel."
8) Once you have edited all of your relevant Opening Balances, they will be factored into your reporting starting on your Accounting Start Date.
9) You can check whether or not your opening balances are in balance on the balance sheet by looking for an Opening Balance Adj entry.
You May Also Be Interested In:
- Opening Balance: How to Balance
- Understanding Your Accounting Start Date
- Chart of Accounts: How to Edit
- Cash & Accrual: How to Set Reporting
- Starting Bank Balance: How To Adjust It
For more articles related to Reports, Attributes, Opening Balance and Chart of Accounts (Click Here)
For the complete list of articles, return to the FINSYNC How-To Guide: (Click Here)