Beginning Balances in the G/L

If your company has have financial activity to track, this will require entering beginning balances. If migrating from another accounting system and trust the accuracy of that data, you may be able to have the data from the old accounting system migrated to REALedger. Please contact us or call 888-661-6600 for more information.

Navigate to General Ledger > Processing > General Journal Entries

Select Add

Enter the relevant information (fields marked in red are required)

If these balances are from the end of a fiscal year, date them as of the last date of that fiscal year.

Enter the amount which is the total of one side of this entry (debit or credit)

Keep the following in mind:

• One debit or credit amount per line
• An Asset account is increased with a debit
• Liability and Equity accounts are increased with a credit
• Revenue accounts are increased with a credit
• COS (Cost of Sales), G&A (General & Administrative) and Expense accounts are increased with a debit

Select + to begin adding your Debit and Credit line items

Start by entering a Debit or a Credit amount on the first line

Select the appropriate G/L Code, Office, and Project (if applicable) from the drop-downs

Continue until all beginning balances are entered, and remaining amounts in red are zero

Once all beginning balances entered, audit your work by running a Balance Sheet under Reports. Enter the Ending Date used for your journal entry.

Once satisfied all entries are correct, post the journal entry to ensure no further changes can be made:

Navigate to General Ledger > Processing > Post the General Ledger

Enter the Date used for your general journal entries as the Ending Date

Ensure the GL Module checkbox is selected

Select Show Exceptions

Select the Post the Activity

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