The quick answer
Open Enter Opening Balances under Setup > Accounting, select the subsidiary, and confirm the date and posting period. Enter the approved debit and credit amounts until Out of Balance By is zero, then save. Find the generated journal and check its actual lines and GL Impact. Saving alone does not prove it posted.
The screenshots use fictional people, companies and account values. This example demonstrates a prepared subset of eligible accounts. It is not a complete migration trial balance.
Before you start
Use saved, active, nonsummary accounts that do not already have opening balances. Your role needs access to the subsidiary, accounts, journals and intended posting period. Use an accountant-approved worksheet specifying each account, amount, subsidiary, currency, date and period. Approval settings can allow a journal to save before it posts.
Here, the worksheet represents contributed opening capital: a 1,200.00 debit to 1080 Operating Cash and a 1,200.00 credit to 3180 Opening Capital in Example Supply US, in US Dollar. The equity offset is specific to this illustration. Use the offset approved for your own conversion. This entry does not create a bank deposit or move money.
Plan open invoices, bills, inventory, intercompany balances, other currencies and accounting books separately. A complete conversion must account for all required balances without counting imported documents twice.
01. Select eligible accounts
Go to Setup > Accounting > Enter Opening Balances. In Setup Manager, find Enter Opening Balances under Accounting > Setup Tasks; available menus depend on your role. Select Example Supply US. Confirm the Account, Type and Currency columns before entering amounts. Operating Cash is Bank; Opening Capital is Equity. The Office Supplies account has a zero starting amount, so it stays blank.
02. Confirm date and period
Select Sep 2026 and enter 09/30/2026. Check these after selecting the subsidiary because defaults can change. This is the approved starting date. Transaction Number still reads To Be Generated.
03. Balance the worksheet
Type 1200.00 in the Operating Cash Debit field and leave it. The displayed amount becomes 1,200.00, its Credit field disables, and this example shows Out of Balance By at -1,200.00. Type 1200.00 in Opening Capital Credit and leave it. Its Debit field disables and the difference returns to 0.00.
Compare the accounts and amounts to the approved worksheet. Zero difference proves only that debits equal credits; it does not validate classifications, currency or the business purpose.
04. Find the generated journal
Click Save. This example returns to Setup Manager. Open Transactions > Financial > Make Journal Entries > List, choose Recently Created in Quick Sort, and locate the entry using its date, accounts and Opening Balance memo. Open View beside the matching journal. JE412 is the number generated for this illustration; use your own generated number.
05. Verify the journal and GL Impact
Check the saved journal's subsidiary, currency, date and posting period. On Lines, verify the 1,200.00 bank debit and equity credit. Inspect any additional lines created by your account configuration.
Open GL Impact. The displayed lines in this example show the expected debit and credit with Posting set to Yes. If the journal is pending approval or has no posted impact, resolve that state before treating the balances as posted. Reconcile the result to the approved worksheet.
Common questions
Why is the account grid empty?
Check the subsidiary and role access. The accounts must be saved, active, nonsummary and eligible for that subsidiary. Accounts that already have opening balances normally do not appear for a new entry here.
Does a zero difference mean the accounting is correct?
It means the debit and credit totals agree. It does not establish that the amounts, accounts, subsidiary, currency, date or classifications are correct. Compare them to the approved worksheet.
Does Save mean the opening balances posted?
Approval, period rules and account configuration affect posting. Inspect the generated journal and its GL Impact. Posting Yes confirms posting for the displayed lines.
Does this replace importing open invoices and bills?
No. A lump-sum general ledger balance does not create individual documents for aging, collection, payment or application. Load open documents separately and design the conversion to avoid counting their balances twice.
Is this an annual rollover process?
No. This establishes first-use balances for eligible accounts. It does not perform a year-end close or reconstruct historical activity.
How do I correct an existing opening balance?
Locate and review the generated journal under your accounting controls. A correction may require an open period, edit permission, approval or a separate correcting journal. Do not enter a second opening balance just to overwrite the first.