Entering Beginning Balances in CustomBooks™

Entering Beginning Balances in CustomBooks™



In CustomBooks™, you can enter beginning balances either through the Setup Wizard (ideal if you're using the default Chart of Accounts) or by creating a Journal Entry if you've imported your own Chart of Accounts.

Setting Beginning Balances through the Setup Wizard:

  1. Navigate to the Accounting, Chart of Accounts section (Page 8) in the Setup Wizard.
  2. Select the CustomBooks™ Default Chart of Accounts (CoA).
  3. Choose your preferred Chart of Accounts setup: Full, Minimum, or Custom.
  4. Enter the beginning balances in the DR (Debit) and CR (Credit) columns.
  5. Click the Save and Close button to complete the setup with the beginning balances.



Entering Beginning Balances through a Journal Entry:

  1. Go to Accounting > Journal Entries > Create > New.
  2. Set the Date for the beginning balances.
  3. Enter the Journal Entry Number.
  4. Add the relevant accounts and enter their balances in the appropriate columns.



Note: Journal Entries can also be imported using the Data Import Wizard.

Importing Journal Entries using the Data Import Wizard:

  1. Go to Admin Panel > Data Import Wizard.
  2. Go to the Data Import Wizard: Transactions Tab > Accounting > Journal Entries.
You can find the Journal Entry import template in the attachments. Visit this knowledge base article to learn more about using the Data Import Wizard.

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