Initial or opening balances are the balances of the company at the beginning of each new financial year or period.
In Codejig ERP Initial balance is dedicated to input balances of your company at the moment when you migrate to it. This way the closing balance in your previous accounting software will become your initial balance in Codejig ERP.
Initial balance record is created ones, and after being posted in the system is not used in any other accounting transactions.
- General information about your company is added to ERP (My company settings)
- Bank accounts of your company and your business partners are created (Bank accounts)
- Business partners of your company, e.g. Customers, Vendors, Banks, Tax offices are created (Company)
- Chart of accounts is defined (Chart of accounts)
- Warehouses are created (Warehouse)
- Currencies are created (Currency)
- Lists of goods and services are created (Item)
- Measurement units are created (Measurement units)
- Inventory items and fixed assets are created (Item)
To go to the Initial balance
- On the Codejig ERP Main menu, click the Settings tab.
- Under the Settings tab, click Initial balance.
Initial Balance: General Area
Initial Balance: Bank Account Tab
Initial Balance: Goods Tab
Initial Balance: Fixed Assets Tab
Initial Balance: Customer Liability Tab
Initial Balance: Vendor Liability Tab
Initial Balance: Other Accounts Tab