Starting balance — Capital Account — Edit

When initiating your accounting records in Manager, you may need to set starting balances for your capital accounts. This guide will help you navigate the form used to enter these starting balances.

The form includes the following fields:

Capital Account

Select the capital account that you have created under the Capital Accounts tab. This ensures the starting balance is applied to the correct account.

Starting Balance Type

Decide whether the starting balance represents a debit or credit amount:

• Debit: Choose this option if the capital account represents an asset on your Balance Sheet.
• Credit: Choose this option if the capital account represents a liability on your Balance Sheet.

Starting Balance Amount

Enter the starting balance amount for the selected capital account.

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By accurately entering your starting balances, you ensure that your financial statements reflect the correct opening positions of your capital accounts.