Fields in the Account Opening Balances window

Fields in this window

Account Opening Balances window

Acct # and Name columns

These columns display the numbers and names assigned to all accounts in your chart of accounts.

The equity accounts assigned to track your company’s current-year and retained earnings aren’t included in this list. These accounts’ amounts are determined automatically by MYOB AccountEdge as you enter transactions into the MYOB AccountEdge system.

Opening Balance column

Use this column to enter the balance of each account in your chart of accounts as of the first day of your conversion month.

Amount left to be allocated

This field displays the difference between the total balance of all your asset accounts and the total balances of all your equity and liability accounts.

To ensure your business records are set up properly, the amount that appears in this field should be zero. If this amount isn’t zero, however, that’s okay; when you click the OK button, the difference will be assigned to your Historical Balancing account, which appears in the General Ledger & Checkbook Linked Accounts window.

OK button

Click this button to accept the entries you’ve made in this window.

*Acct # and Name columns*	These columns display the numbers and names assigned to all accounts in your chart of accounts. The equity accounts assigned to track your company’s current-year and retained earnings aren’t included in this list. These accounts’ amounts are determined automatically by MYOB AccountEdge as you enter transactions into the MYOB AccountEdge system.
*Opening Balance column*	Use this column to enter the balance of each account in your chart of accounts as of the first day of your conversion month.
*Amount left to be allocated*	This field displays the difference between the total balance of all your asset accounts and the total balances of all your equity and liability accounts. To ensure your business records are set up properly, the amount that appears in this field should be zero. If this amount isn’t zero, however, that’s okay; when you click the OK button, the difference will be assigned to your Historical Balancing account, which appears in the General Ledger & Checkbook Linked Accounts window.
*OK button*	Click this button to accept the entries you’ve made in this window.