Enter your opening balances
Bring in what customers owe you, the stock on your shelves and what it cost, and your bank balance and loans, so your books start where your business really is.· 1 min 44 s
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Start free trialFrom the guide: Opening balances — which way round the sign goes
When you bring an existing business onto BusinessSensor, each customer, vendor and account starts with the balance it already had. That figure is the opening balance, and the single thing that goes wrong most often is its sign.
A wrong sign does not look like an error. It saves without complaint, and only shows up weeks later as a customer who appears to be in credit, or a supplier the books say owes you money. Each form now carries a note telling you which direction a positive number means on that screen.
Customers — Chart: money owed to you.
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