After financial statements are completed, the company begins with a new amount on their balance sheet.
Related information about opening balance:
- What is opening balance? definition and meaning
Definition of opening balance: Balance brought forward at the beginning of a new accounting period, on the credit or the debit side of the ledger. See also ...
- Opening Balance - Financial Dictionary - The Free Dictionary
The amount of funds in an account at the beginning of a period, especially a month or year. For example, if one has a bank account with a balance of $1236 at ...
- How to Create an Opening Balance in QuickBooks | Chron.com
Your small business can use QuickBooks accounting software to keep track of accounts, payroll and expenses. Before you begin using QuickBooks for your ...
- What is the opening balance? | E-conomic Accounting Glossary
Definition: the balance brought forward at the beginning of an accounting period. Read this definition and more in the E-conomic accoutning glossary.
- FrontAccounting Wiki - Main - Opening Balance
Sep 6, 2012 ... Initial/Opening/Beginning balances. How to do that? Using a Balance Sheet that ends your existing accounting system, you can then do the ...
- What Is an Opening Balance?
In the financial world, an opening balance can mean a number of different things, depending upon what the specific person or business is doing. In business, the ...
- How to modify the existing opening-balance journal entry of an ...
Describes how to adjust the opening balance of an account.
- Edit an opening balance for a balance sheet account
Edit the opening balance transaction from the register of that account: ... Select the account with an opening balance you want to edit, and choose Edit > Use ...