Opening balances: moving from an earlier system
Opening balances represent company assets and obligations when starting SINAD. Tabs cover cash, parties, stock, checks and ledger accounts.
Last reviewed
Before you start
Select the correct company and verify permissions. Learn in a test workspace; posting or restoring can change actual data.
Workflow
- Choose a cutover date after closing the old system and prepare matching balances and statements.
- Enter each balance in its tab and currency; inspect party, check, variant and warehouse where relevant.
- Review debits, credits and difference; do not balance using an arbitrary account.
- Save, then lock approved opening balances and compare reports with the previous system.
Watch this distinction
Do not enter the same balance both as a party balance and again in the ledger. Review detail and totals with the accountant before locking.
Verify the result
Reopen the record and check saved values and state. For financial operations, compare the document with the relevant movement and report before continuing.