Accounting > Opening Balance

When creating a new bookyear for a bookkeeping and also with the function 'Copy Opening Balance' (menu Bookkeeping> Financial), the balances of a last fiscal year can be copied. These are entered in the daybook BB. Changes in this daybook cannot be altered manually. With the function 'Clear daybook BB', the daybook BB can be cleared.

This daybook must have 'BB' as code and 'Opening balance' as type.

Notes attached to outstanding invoices will be transferred as well, unless these outstanding invoices already have notes in the new bookyear.

If the last fiscal year was not entered in Mill, or if the opening balance needs to be corrected, the opening balance can be entered in the daybook BC.This is a daybook with type 'Opening balance corrections'.

When an opening balance of the last fiscal year is copied again, changes in this daybook remain unchanged. Only changes in the daybook BB will be deleted and re-created.

Afterwards the opening balance of the bank can be recalculated by using the function recalc bookkeeping totals.

In the opening balance the outstanding debtor and creditor amounts are booked per invoice, including VAT.

In menu Reports> Financial the report Opening balance can be started.

Important:

If the bookkeeping value of the bookkeeping is differs from the bookkeeping value of the year before, the opening balance cannot be copied.

This also counts if the number of positions of the account diagram is different than the year before.