Enter opening balances from your trial balance

This is step 2 of 7 to set up your clients with Sage Accounting.

On this page learn how to:

  • enter opening balances from your clients' trial balance

Before you begin:

  • check your VAT Scheme and Accounts Start Date are correct by selecting Settings then Accounting Dates & VAT

  • have your client's trial balance ready

  1. Select Settings (or More in Accounting Start), and then select Nominal Ledger (or Category Opening Balances in Accounting Start).
  2. If it isn't already set, you are prompted to enter the start date for your accounts. If it is already set, verify that it is correct in the Accounts Start Date field. If necessary, select the date to change it.
  1. Enter a Reference for your opening balances.

If you’ve already entered your customer, supplier and bank opening balances, the values automatically appear. If necessary, you can amend these values by selecting the relevant line.

  1. Enter the remainder of your trial balance.

As you enter your trial balance, to ensure the total debits and credits balance, the opposite entry posts to the Opening Balances Control Account. Once you’ve entered all the values from your trial balance, this account should be zero. If it isn’t, check you’ve entered the correct values for each entry.

If necessary, you can save your opening balances without entering the full trial balance. A value remains in the Opening Balances Control Account until you can enter the full trial balance.
  1. Check the opening balances entered match those on your trial balance and then select Save.