Settings
Opening balance
Enter starting ledger balances before you post live transactions — step by step for admins.
What is this page?
Opening Balance sets starting figures for ledgers when you move from old books or start SmartBookz mid-year.
Settings → Organization → Opening Balance (/settings/profile/opening-balance).
Why you use this page
- Tell the system how much cash, bank, loans, capital you had on opening date.
- Makes Balance Sheet and registers correct from day one.
What you see on the screen
A four-step wizard: Setup → Enter balances → Review → Post.
What you will see on the screen
- Books start date — balances apply from this date (defaults to 1-Apr of current FY).
- Status — Draft or Posted.
- Ledger grid — partial trial balance (cash, bank, vendors, etc.).
- Summary — live debit/credit totals and auto adjustment preview.
- Opening Balance Adjustment — system-only; not shown in the grid.
Before you start
- Chart of Accounts reviewed.
- Owners added if needed.
- Trial balance from old software or CA on paper.
- Everyone told not to post live vouchers until opening is done.
Step-by-step: enter opening balances
Setup
Choose onboarding path; set books start date (often 1-Apr or your go-live date).
Enter balances
Enter only ledgers you know (e.g. cash/bank); skip sections you will import later.
Review
Check journal preview and any pre–books-start warnings; add Owner's Capital if imbalanced.
Post
Confirm and post. System posts opening journals plus one residual adjustment line if needed.
Verify
Open Balance Sheet as at books start date.
What happens after save?
- Registers and ledgers start from those figures.
- Later receipts/payments add on top — do not re-enter opening in daily vouchers.
Tips
| Tip | Why |
|---|---|
| CA sign-off | Avoid rework |
| Include pledge outstanding | Loan books must match vault list |
| Lock staff out during entry | No half-old half-new data |
If something goes wrong
| Problem | What to do |
|---|---|
| Out of balance | Recheck trial balance; one ledger typo |
| Wrong date | Admin may need correction procedure |
| Already posted live | Ask support/CA — may need adjustment journals |