What Is Balance Reporting?

The opening balance (opening balance) refers to the existing account balance at the beginning of the period. The balance at the beginning of the period is based on the balance at the end of the period, reflecting the results of transactions in previous periods and the accounting policies adopted in the previous period. The existing account balance at the beginning of the period is the amount carried forward from the previous period to the current period, or the adjusted amount at the end of the previous period. Generally, the opening balance is the balance carried over from the previous period's account to the current period's account, and the amount is equal to the corresponding period's last period's ending balance. However, due to factors such as events after the previous period, changes in accounting policies, and corrections of previous accounting errors, when the balance at the end of the previous period is carried forward to the current period, it may sometimes need to be adjusted or re-expressed.

Opening Balance

If the auditors conduct annual audits of the audited unit,

When the activation time is the same, in addition to entering the "fixed assets" and "accumulated depreciation" accounts in the account, you must also enter the beginning balance of the fixed asset card in the "fixed asset beginning" window of the fixed asset system When the accounting system is settled, the system will automatically check whether the opening balance of the "fixed assets" and "accumulated depreciation" accounts in the accounts are consistent with the original value of the fixed asset card and the accumulated depreciation opening balance in the fixed assets. Checkout will not be allowed;

When the activation time is inconsistent (such as enabling accounting first, then enabling fixed assets), no longer enter the beginning of the fixed capital in the fixed asset system (because the system will not allow you to enter the beginning of the data after the checkout), but enable the fixed capital The fixed assets before the date are entered in the "Fixed Assets Increase" window. Please note that when entering, select "Do not generate vouchers" in the card entry so that the data on both sides will not be duplicated.