To Enter your Nominal Ledger Opening Balances
1. From the Sage Line 50 toolbar, click Nominal.
2. Select the nominal account codes for which you have opening balances, then click Record.
3. Click the O/B (opening balance) button in the Balance text box.
The Opening Balance Setup window appears.
4. In the Opening Balance Setup window, enter the following opening balance details.
If you are entering opening balances for a bank account, you should remember that double-entry bookkeeping principles are applied in Sage Line 50. If you have money in your bank or building society, a statement from them shows you have a balance under the æcreditÆ column. This is because they owe you that money, and you are the creditor.
However, when you record this money in your accounts, such asset balances are recorded the other way around, as debits. If you have money in your bank or building society account, the balance must be entered as a debit.
5. To accept these details, click Save, or, to return to the Nominal Ledger (or Bank) Record window without saving, click Cancel.
You can enter the following opening balance information:
Your next step...
To Enter a New Nominal Account Record
To Edit a Nominal Account Record
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