How to Enter Opening Balances in Reckon One

October 29, 2018 0 By Admin

Need to enter opening balance but don’t know how to do this? Reckon Customer Support Number Australia +61-028091-6999 will help in detailing the step by step entering or editing opening balance in Reckon accounts. Although you can start using Reckon before the opening balances are entered. Opening balances usually mean the amount at the last financial year which can be get from Trial Balance created at the time of tax return entered in a new financial year.

Points you must know about entering the opening balance in Reckon:

  • The opening balance should be the balance on your bank statement when you started using Reckon One software.
  • Positive bank account balances are entered as debits. Negative balances for credit card accounts, loans or overdrafts are entered as credits.
  • You need to set up your bank or credit card account in Reckon before you can add the opening balance.
  • Opening balances for bank accounts and credit cards that your business has at your conversion date are entered as conversion balances in Reckon.
  • It is recommended to enter the conversion balance for your bank account or credit card before importing any transactions into the account.

To know more about entering the opening balances in Reckon accounting software, dial Reckon One Support Number +61-028091-6999, available any all the time to solve your problems to handle Reckon software with ease.