Step-by-Step Guide to Setting up Sage 50 Opening Balances for Your Business

Petersen.grace199229 Mar, 2023Business

Sage 50cloud Accounts' opening balances reflect the financial status of your business on the first day you use it. Opening balances typically include the following information: Transactions with outstanding customers. Transactions outstanding with suppliers. Trial Balance figures for the Nominal Ledger. For Sage 50 Accounts financial reports to be accurate, you must enter accurate opening balances, even if you're just starting your business.