When you are starting a new year but never did the year previous, you write is as opening balance, but what account would it go to
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When you are starting a new year but never did the year previous, you write is as opening balance, but what account would it go to
I'm confused. If you didn't do the previous year, how would you have opening balances for a new year? As for "what account" -- ANY AND ALL accounts that have balances after closing's been done at the end of the prior year. Opening balances isn't one account.
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