FormerMember

Opening Balances New Company

Posted By FormerMember

I am new to accounts and have just started a new small company using Sage.  I have already entered some customers and transactions but need to enter opening balances which were 0 on the day I started company. The system says to enter a positive non zero gross balance. I am confused and would be grateful if someone could help me.

  • 0

    Hi. 

    Thanks for using Sage City. 

    If opening balances were 0 then you wouldn't need to enter any opening balance as there isn't a value to input. 

    You would only need to enter an opening balance if there is a debit or credit value that needs putting on a nominal code. 

    regards,

    Sean
    Sage UKI