User Support Forum

When I do the start up process for PC+ do I need to enter beginning balances (checking, savings accounts) during that process or can I leave them at zero and enter them later (after I have completed the process)? I want to get everything ready (Chart of accounts for several funds, etc) to begin Jan. 1, 2007 now and complete the setup process. Then I would need to put Jan 1st beginning balances after Dec. 31 when I know them. How would I do this?

Thanks

The beginning balances can be "adjusted" in using journal entries after completing the setup assistant. These would be entered in the Accounting > Fund Accounting > Enter Transactions screen and would look like the following:

debit asset
credit equity/fund balance/net assets

or

credit liability
debit equity/fund balance/net assets