We have converted from one software package to another and I have a basic question that I would appreciate if anyone could answer. When entering the amounts of the beginning balances I just used the ending balances from the former accounting software package, no big deal. However there is an additional new checking account that I want to combine into this new software. I just need to know what the offset will be for it, I'd debit "new checking account" and credit owners equity? I really appreciate the help on this. Happy New Year fellow accounting people