Opening balances in ledger

[TrueTears]

Hi, how do we enter opening balances in the ledger? More importantly, how do we set it out?

eg, say for cash on mar 31 you got a debit of 17000, how do you put the opening balance for april 1?

Thanks

[kakar0t]

      Cash at Bank a/c
================================
Dr                     $ | Cr               $
Apr-1 Balance    17000|
                   |
                                  

Apologies for the poor formatting.

A debit balance at the start of the month is represented in the format

"Month-1st / BALANCE / AMOUNT"

[TrueTears]

does it go under credit or debit?

coz i thought u put 17000 in credit to balance up the debit from march 31st...

im so confused

[nbalakers24]

does it go under credit or debit?

coz i thought u put 17000 in credit to balance up the debit from march 31st...

im so confused

opening balance for Cash (CA) is debit.
end of period: you put the the balance in the credit side so that debits equals credits.