GL Opening Balance  - Balance Sheet        

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If your company is changing the software to Realtimme Cloud system in April 2019.
Assuming your company's year end is 31st March of each year.
Assuming the followings are the Balance Sheet of your last audited accounts of your company as at 31/03/2019. (Note: Balance Sheet items only, no Profit & Loss item)


: Transfer Trial balances from previous system to Realtimme    or       Transfer Balance Sheet from previous system to Realtimme


Assuming below is your Balance Sheet as at 30 June 2020 (unaudited figure just to transit into Realtimme cloud, you can amend again once audited) .






1. Furniture and Fittings



2. Accum Depn - Furniture & Fittings



3. Office Equipment



4. Accum Depn - Office Equipment



5. Bank –OCBC (SGD)



6. Bank – OCBC (USD) 1,000.00 @1.400



7. Share Capital



8. Trade Debtors Control



9. Trade Creditors Control



10. Other creditors



11. Closing Stocks (31/03/2019)



12. Accruals



13. Unappropriated Profit / Loss                                







You are to enter the balances into the Realtimme cloud system as Opening balances in the General ledger Journal


Step 1/4 : At [A/C Entry]  --> click G/L Journal




Click [Opening Balance] tab



Click [Add]



Step 2/4 : Follow the steps below [1] to [9]




2. It is preferred that that you enter your opening balance date on the 30th June 2020 rather than 1st July 2020.
   In case you have entries entered in 1st July 2020, it will be separated from the 30th June 2020 figures.                                                        



Step 3/4 : Note: You need to transfer closing stock  from 30/06/2020 to Opening Stock dated 01/ 07/ 2020, as shown below.

         Dr        L-O001    Opening Stock                             3,491.50

                       Cr        D-S001    Closing Stock (Bal Sheet)                               3,491.50




Step 4/4 Since the Closing stock is Debit in nature, click the drop down box to select credit entry to reverse (zero) the account, as shown above.


The General Ledger for the closing Stock and Opening stock  will be as per below.



Go to Reports--> General Ledger --> Balance Sheet


Set the financial year 06/2020 to print preview to check if the brought forward figures are correct.





Note: Make sure that the Balance Sheet above is as per your audited accounts as at 30th June 2020.
To check one of the account in the GL Enquiry, example bank balance


        Back to Getting Started



Related Topics

Mid-financial year Opening balance


Financial Period


Opening balances - Customer (Debtors)


Opening Balance - Supplier (Creditors)


Opening Balance - Bank Unpresented Cheque b/f


Getting Started


FAQ : Unappropriated Profit & Loss posting not allowed



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