Accounting | Financial Management
Opening Balances
The balances you arrive with, posted to the ledger and held against it.
What it does
Inside Opening Balances.
Go-live starts from a position that was posted, dated and reconciled, not from numbers nobody can source.
01
Key opening balances by account, or import a trial balance from the old system
02
Post them as dated journals rather than as an untraceable seed
03
Imported trial balances kept as extracts, each one reconcilable on its own
04
Ledger figures set against the balances claimed, with the difference shown
Where it sits
Part of Accounting.
General Ledger A ledger per entity, posted continuously and open to the source. Chart of Accounts A group chart that every entity maps into without losing its own. Journal Entries Manual entries that carry evidence, approval and a reason. Fixed Assets Capitalisation, depreciation and disposal tied to the purchase that created the asset. Financial Close A close checklist that knows what is already done. Consolidation Group numbers built from entity postings, with eliminations shown. Ledger Setup The rules the ledger runs on, configured once and applied everywhere. Depreciation Runs A period charge drafted, reviewed and posted per book, never keyed by hand.
Run Opening Balances against your books.
A working session on your structure and a month of your documents.