Beginning balances without accounting set-up

[conchur]

I have deleted old data but retained my Chart of Accounts. How do I enter
Beginning Balances for August 1st??

Do I use account 3110?? For example Debit Checking the ending balance on
July 31st, and Credit 3110. Then for electricity Credit $847.32 (the YTD amount) and Debit 3110????

Or is there another way to do this.

Thanks.

[Matt]

Is August 1 the beginning of your fiscal year? If so, is the month of July 2007 still open in Fund Accounting?