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Setting up my bank accounts for the first time in accounts

edited February 2014 in Accounting
When I setup my bank accounts for the first time, I noticed on the left side it says "Difference in Opening Balances", how come?



  • edited February 2014
    In addition to setting up the bank accounts for the first time, you will also need to setup you Capital Account as well.  

    1. From the Ledger view click on Activity Menu then select Edit Group/Ledger List

    2. Double click on Capital Account

    3. Enter the capital amount as on the beginning of the financial year:

    4. Now, you will not see the "Difference in Opening Balances"
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