Opening balance sheet
The Opening Balance Sheet is set up in a similar way to Assets & Liabilities. But whereas Assets & Liabilities shows the accumulated value of an account, the Opening Balance Sheet shows you the monthly net changes.
In the Opening Balance Sheet you are working with opening balances and net changes for the various accounts. Remember that you are entering changes in inventory, and therefore you must keep an eye on whether the account is an asset or a liability.
The Opening Balance Sheet is primarily used for managing loans and settlement of new openings for debtors, creditors and VAT.
The positive addition to Plant and machinery of 12000K kr. in February will be automatically matched by budget123 with a payment in the cash budget of 15000K (if account 1020 is subject to VAT).
Please note!
When you create a Forecast, it is important that you manually settle your debtors and creditors in order to achieve the proper cash flow calculation in the budget period.
If, in the Chart of Accounts, you have decided that a given account is a value adjustment account, you can only edit the column named Opening (Primo). You should enter the adjustment in the appropriate Profit & Loss account. The Assets & Liabilities account will be automatically updated.
In order to transfer the opening balances you may want to [Update budget data] and automatically retrieve the opening balance from a given time directly from your accounting system or from a forecast.
Please note!
You should NEVER manually enter an adjustment on the cash account in the Opening Balance Sheet!