How to check if opening balances have been entered correctly

Check if Opening Balances have been entered correctly

When you start using SortMyBooks unless you are also at the beginning of your business, eg. you’ve just started in business, or you’ve just changed over to a limited company, then you are going to have balances from your old system that need to be entered into SortMyBooks. The last set of accounts filed for your business contained those balances. Before you complete your first year end in SortMyBooks all of those balances have to be entered in full.

How to check if your Opening Balances have been entered fully:

Click on the Accountant button on the right-hand side of the toolbar

Click on the Nominal Ledger Reports

Click on the Balance Sheet

Scroll down to the section titled Suspense

If the Opening Balance line does not contain all 0s then it means that there is information missing.

Click here for a video on how to enter the Opening Balances.