What is the opening balance?

Defining the opening balance

Updated over a week ago

Edition: Enterprise

User-level: System Administrator

Previous steps: Turn on unearned income

The opening balance refers to the date in Synergy that you start calculating unearned income from.
Before setting the opening balance date you should ensure that your unearned income reports in Synergy match your current spreadsheets.

It is best practice, to have this date in the past.

For example, if you have an opening balance transaction date on 31/07/19 and activate the change on 15/08/19. You will not see your transactions if you filter for 01/08/19 to 31/08/19. You will find the transactions in the month of July.

Where to next?

Did this answer your question?