Beginning Balance setup

[RivertonCC]

I'm new to PC using V14. The account setup was already setup, chart of accounts organized. Where do I go to add our beginning balance without resetting? I don't want to loose all my work.

[NeilZ]

I'm new to PC using V14. The account setup was already setup, chart of accounts organized. Where do I go to add our beginning balance without resetting? I don't want to loose all my work.

Normally you would do this when creating the accounts in the Accounting Setup. I'm going to assume by 'beginning balance' you mean the checking account.

What you need to do is create a transaction in the fund accounting module that DEBITs the checking account, and CREDITs the Unrestricted Net Assets account. It would look like this, using the default account numbers normally used by the Accounting Setup:

01-1110-000 Checking DEBIT $100.00
01-3110-000 Unrestricted Net Assets CREDIT $100.00

You would post that, and that amount becomes your beginning balance. However, if this is for a different type of account please let us know.

[RivertonCC]

Thank you. This helped.