Help › Bookkeeping
Enter opening balances
When you switch to Talisk mid-stream, enter the balances your books started with:
- Go to Ledger › Accounting › Opening Balances.
- Set the Conversion date: the day your Talisk books begin.
- Fill each account's balance under Assets, Liabilities, Equity, and (mid-year) Revenue and Expenses. The footer shows Debits, Credits, and the Difference.
- Click Save opening balances.
Talisk posts one balanced journal entry on your conversion date. If your entries don't fully balance, the remainder is booked to an equity account: at a year-end date that's retained earnings; mid-year it flags a likely typo.
Re-saving replaces your existing opening entry, not adds to it. If your conversion date is inside a locked period, remove the lock first. To pull these figures from your old software's trial balance, use Import from Books.
Good to know: Opening balances post as one balanced journal entry dated your conversion date,
and re-saving replaces the existing opening entry rather than adding to it. If
the conversion date sits in a locked period, unlock it first.