First of all decide a date to record opening balances for all Customers, Suppliers, Banks, Cash, Stock. Prepare an Excel sheet and record all your balances on that sheet. Opening Balance are recorded through Journal Entry.  Accounts >> Transactions >> Journal Entry Customers: 

  • In Account Description Select Accounts Receivable. 
  • In Counter Party Select Customer Name 
  • Enter Debit (If Receivable) or Credit (If Advance Payment) amount.
  • Add Item
  • Repeat same process for all customers


  • In Account Description Select Accounts Payable. 
  • In Counter Party Select Supplier Name 
  • Enter Debit (If Advance Payment) or Credit (If Payable) amount.
  • Add Item
  • Repeat same process for all suppliers

Banks / Cash

  • In Account Description Select Bank or Cash Account. 
  • Enter Debit or Credit amount.
  • Add Item
  • Repeat same process for all Bank or Cash Accounts

Closing Voucher Now in the end in order to settle the voucher means to equal Debit and Credit Side record the last line as

  • In Account Description Select Opening Balances. 
  • Enter Debit or Credit amount to settle the voucher.
  • Add Item
  • Process the Voucher.

Make sure the date is the opening date we have decided to start