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    TaY_TaY2004's Avatar
    TaY_TaY2004 Posts: 1, Reputation: 1
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    #1

    Sep 14, 2009, 07:58 PM
    Opening Balances
    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
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Sep 15, 2009, 01:23 AM

    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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