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Another Beginning Balance Thread...
07-01-2012, 12:41 AM,
Photo  Another Beginning Balance Thread...

Let's assume that I was smart enough to set up a bank account (checking).
Let's also assume that I read the manual's dissertation on set-up of bank accounts...and got no practical knowledge on the >how< portion.
Let's also assume (correctly) that I am a non-bean-counter programmer businessman that understands about how everything is supposed to ==$0 in an accounting system, but not much else.

Now I shall attempt to enter a starting checking account balance for "The West Bank of the River"

I log in
I am in the [MAIN] tab.
I click on the [General Ledger] sidebar tab.
I select [Bank Account Receipts Entry]

[Image: entry1.png]

OK, I have selected the bank account, and then hit [accept], then hit [Accept and Process Batch]
I now have the following (note that this is batch 3, since I have tried this a few times):
[Image: entry2.png]

Now I have also gone in and tried entering [bank receipts matching] hoping that it would help the process along, but to no avail.
At this point, the Idiot (Yours' Truly) thinks he can go to a report of some kind and see an asset balance somewhere that shows he has $56512.29 in assets somewhere! Go figure hunh? Told you I was a N00b!
...unfortunately, I cannot. None of the reports reflect any sort of activity at all, and only show 0.00 in long lines.
Out of curiosity, WTF?
Where does an idiot need to go next to see a balance sheet that shows some activity? Or am I doing everything totally wrong to enter a dang account balance after reading through a mile of "instructions" in the (*ahem*) "Manual"?

Thanks in advance guys! It's great to give to the OpenSource community, but this time, I would not mind >receiving< a little help myself! Blush
07-01-2012, 11:55 PM,
RE: Another Beginning Balance Thread...
Did you select the right period?
Best regards!
07-02-2012, 02:02 AM,
RE: Another Beginning Balance Thread...
Yeah, I selected various reports from 1 Nov 2011 - current, just January, you name it. What I am looking for is verification of the approach, or better yet, someone telling me "You can take a blank db, create a banking account, then put money in it like +example this+ and see it +example here+.
-Pretty Please
07-03-2012, 02:43 PM,
RE: Another Beginning Balance Thread...
Is "Bank of America Checking" the same bank account as "1030 cheque accounts" - as the above entry would simply Credit 1030 wiht the receipt and debit the same account with the payment - net effect nil.
You can check (note spelling) the bank account setup from setup->Bank accounts.
If you wish to bring on an opening GL balances then you need to enter the receipt against all the other balances that you are bringing on eg. You have some plant and equipment 1000 and some customer balances (debtors) and you owe some suppliers (creditors) and you have some retained earnings (capital) in the business.

enter the receipt for the capital (at the amount of the retained earnings b/fwd) and the negative receipts for the debtors, plant and a positive receipt for the creditors ... the balance of the entry total should be the amount of the receipt to enter to the bank account.

Only a few concepts in accounting but this double entry thing can fox many people. Just need to work with it to get your head around it.

Phil Daintree
webERP Admin
Logic Works Ltd

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