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To enter your beginning balances you will need to follow the steps below:

1.Enter in your Balance sheet accounts beginning balances as of a chosen Effective Date - You can use GL journal entry to get this done.

2.Then set up 2 accounts for your AR and AP- ie. If your AR is 1200 subbed by 101 then the other account would be 1201 without a sub. Same thing for the AP i.e. AP 2010 subbed by 20 then the other account would be 2011 without a sub.

3.You will enter in your AP balances only (no detail) to 2011. Enter your AR balance only (no detail) to 1201. (These accounts can be inactivated after the beginning balances are all entered.)

4.Enter in AP detail either through an excel import or hand keying the invoices in. You will Credit 2011.This offsets the beginning balance that you entered into the 2011. The invoice date is the date of the actual invoice. The effective date is 09/01/2023. The due date is the date you want to pay the invoice.

5.Enter in the AR through an excel import or through a Journal Entry. You will Credit 1201 and Debit the 1200 subbed by the owner, add the invoice number as well.

6.You can enter in the invoice date or enter all as of a chosen Effective Date. This offsets that beginning balance you entered in the 1201.

The system will create the balance forwards.

Steps 4 and 5 get your detail in there for your AR and AP invoices.

See New Company Setup Checklist / Beginning Balance for more information