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Categories AgExpert Accounting AgExpert Analyst
Created by AgExpert Support
Created on Mar 13, 2017

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Hi, Am trying to enter opening balances and have run across a snag, from my old software I have equity accounts with balances to enter that am unsure of where to place these, as well as my Dividend acct, I think I entered incorrectly, My dividends' in old software show as DR therefore I entered as a negative balance, Did I enter this correctly?

  • ADMIN RESPONSE
    Feb 10, 2025

    Hi Deb!

    You are actually correct! Dividends reduce your equity, and so appear on the trial balance as a negative number. When entering dividends as an opening balance, you would enter it in as a negative, to tell the system that this is a debit balance.

    I hope this helps!

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