You have the ability to make changes to the initial balance that you entered in Zoho Books. Here’s how it’s done: Select Opening Balances from the Settings drop-down menu. Then, in the top right corner of the page, click the Edit button to make changes.
How to add opening balance in zoho books?
Tap on the Settings tab. Now enter the Opening Balance Date in the given field. Enter the balance of the sub-categories of the Opening Balance.
To enter the opening balances in Zoho Books: Go to your Zoho Books organisation. Go to Settings and then Opening Balances. Click Edit and enter the relevant balances for all the accounts or click the Import Opening Balances option in the top right corner of the page to import the balances.
One of the next things we wanted the answer to was; how to import opening balances in Zoho books?
Go to your Zoho Books organisation. Go to Settings and then Opening Balances. Click Edit and enter the relevant balances for all the accounts or click the Import Opening Balances option in the top right corner of the page to import the balances.
You have to enter the balances for all your accounts as of 31st July in the Opening Balance screen and save the opening balance. So that, you can start using Zoho Books from 1st August. How do I bring in the opening AR and AP balances as the boxes on the Opening Balances template is blocked for these items?
How do I set the opening balance for my business?
Click Settings in the top right corner and select Opening Balances. This date is usually the date you’ve started using Zoho Books (this applies to both new and existing businesses).
What types of accounts are available in Zoho books?
Zoho Books by default has a list of accounts that are common to all businesses. The accounts are grouped into Accounts Payables and Receivables, Assets, Expenses, Liabilities, Bank Accounts, Equity and Income. Each account category has multiple accounts under them. To enter your opening balances:.
Any business that has recently switched to Zoho Books from another accounting software or from manually maintained books of accounts, will have to ensure that all details from the previous accounts are brought in.
While we were reading we ran into the query “How do I map my customers/vendors in Zoho books?”.
Click Next and map the fields in Zoho Books with the column headers in the import file. Click Next once done and import your data. This will import all the opening balances of your customers/vendors and map them with the respective customers/vendors.