Setting your opening balances

You can enter opening balances any time during your first fiscal year.

Click Chart of Accounts on the left menu.

Click the Set opening balances button.

You can use the search filter to find a specific account.

You can also use the drop-down menu to show only specific types of accounts.

For your bank account(s), enter the balance as if the cheque that was written during the last year did clear your bank account (chequebook balance).

For historical accounts payable and receivable, follow this article. 

Last updated on January 25, 2026 by FCC AgExpert