How Do I Enter Opening Balances Part Way Through the Financial Year?

If you start to use Sage Line 50 part way through your financial year, you should contact your accountant for a detailed list showing all your outstanding debtors and creditors. Use this as the opening balances for your customers and suppliers.

Your accountant should also be able to give you a trial balance that will give you the opening balances for each nominal ledger and bank account.

If you need to enter opening balances part way through your financial year, you will probably have a lot of nominal ledger opening balances to enter! It is important that you enter these accurately, otherwise your balance sheet will be incorrect.

You will also need to enter any year-to-date values from your profit and loss accounts, which your accountant should give you.