Prepare your trial balance
Opening balances are what your business owns and owes on the day you start. A trial balance is a table showing each account's balance. Export it from your old system as at the start date, or fill in the Excel template you will download in the next step. Pick a clear date, usually the first day of your fiscal year.
Start a migration run
Under Setup open Migrate data. Pick your old system, or Excel / CSV if it is not listed. Set the Opening balance date, then press Start.
Upload the file
On the Opening trial balance row press Download template if you want the ready columns, then Choose file and upload your xlsx or csv. Once the row count appears press Next, and match your file's columns to the program's fields.
Review before applying
Press Review. Nothing has been written to your books yet. If debits and credits do not match, the difference goes to Opening balance equity so the entry balances. This example is a business with a bank balance and customers, and its capital in the file:
| Account | Debit | Credit |
|---|---|---|
| Bank | 50,000.00 | |
| Receivables | 20,000.00 | |
| Capital | 60,000.00 | |
| Opening balance equity | 10,000.00 |
If you upload open invoices along with the trial balance, receivables and payables could appear twice. The review warns you, and you should then drop those lines from the trial balance and take the balances from the invoices.
Apply and check the result
When Ready to apply appears, press Apply the migration. One opening entry is posted on the start date. Open Reports, then Trial balance, compare the balances with your old system, and review anything in the balancing account with your accountant.
Made a mistake? Under Earlier migrations press Undo this migration. An undo is refused once the period is closed, or if payments were recorded against the migrated invoices.
Only a few balances?
If you only have a few accounts, you can enter them as an ordinary journal: open Journals, press New journal, and enter each account as a debit or credit until both sides are equal.
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