How to Set Opening Balance in LedgerX
Set your business starting balances accurately before you begin daily transactions. Opening balances ensure your accounts reflect the correct financial position from day one.
1
Choose the Opening Balance Date
Confirm the “As on” date (usually the start of your financial year).
2
Expand Account Groups
- Open required groups like Assets, Liabilities, Bank Accounts, Cash, Receivables, etc.
- You can expand or collapse groups to focus only on what’s needed.
3
Enter Debit or Credit Amounts
- Enter balances directly in the Debit or Credit column for each account.
- Use Debit for assets and expenses.
- Use Credit for liabilities, capital, and payables.
4
Add Missing Groups or Ledgers (If Needed)
- Click G to add a new Group.
- Click L to add a new Ledger instantly.
- Assign it to the correct group and continue entering balances.
5
Enter Opening Stock (If Applicable)
Click Enter item wise under Opening Stock to add inventory quantities and values.
6
Check the Difference
- Ensure Difference in Opening Balance = ₹0.00
- This confirms your debits and credits are perfectly matched.
7
Save
Click Save to lock in your opening balances.