Set Up Opening/Beginning Balances

To set beginning on-hand levels for inventory items, you can use Admin -> Inventory -> Item Beginning Balances. This process will allow you to set inventory levels for items without affecting the general ledger. 

To set beginning balances for customers, go to Admin -> Billing -> Beginning Balances. This process will create an open invoice for the customer, but not affect the GL. You can also import customer invoices with beginning balance info by using Tools -> Import -> Import Customer Invoices. Check the box labeled Do Not Create GL Transactions if you don't want GL entries to be created. Checking this box is not recommended after an initial import of beginning balance data as it can cause reconciliation issues between the aging report and the GL account balance for accounts receivable.

To set beginning balances for vendors, go to Admin -> Payables -> Beginning Balance Bills. Using this process will generate vendor bills, but won't affect the GL. You can also import vendor bills with beginning balance info by going to Tools -> Imports -> Import Vendor Bills. Check the option labeled Do Not Create GL Transactions to import vendor bills and not have the process affect the GL. Checking this box is not recommended after an initial import of beginning balance data as it can cause reconciliation issues between the aging report and the GL account balance for accounts payable.