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I am inputing my opening balances but there are a couple of numbers that I don't have at this time. Can I save that page and then come back at a later time and put the last of the opening balances in, or do I need to complete it before I save? Also the screen says that I cannot save it because my opening balance setup is out of balance by $---. Do I just input that number into retained earnings. ( I think I read that somewhere) How do I know my figures are correct? or can I change it later if I realize a mistake or missing item? Also can I start inputing transactions before this is done?
Hi Mary Jane, you can absolutely save it now and then go back later. Just scroll down to the bottom and type in whatever the "out of balance" amount is into Retained Earnings. Then you can click on Save and come back into that window to change balances on anything except inventory accounts throughout the entire first year of your operation.