When transferring data from Akaun Simple Excel or another accounting system into ASPLUS, users only need to take accounts from the Balance Sheet to fill in the Opening Balance.

Income and expense accounts should NOT be included because they will start from zero in the new accounting period.

Below is the correct debit and credit guide.

Assets (Enter as Debit)

The following accounts should be entered as Debit:

• Cash and Bank Balances
• Trade Debtors (Accounts Receivable)
• Advances, Deposits and Prepayments
• Inventory / Stock
• Property, Plant & Equipment (Fixed Assets)

These accounts represent resources owned by the business, therefore they are recorded as Debit.

Liabilities (Enter as Credit)

The following accounts should be entered as Credit:

• Creditors, Accruals and Other Liabilities (Accounts Payable)
• Term Loan
• Hire Purchase
• Long-Term Loans

These accounts represent amounts owed by the business, therefore they are recorded as Credit.

Equity Accounts

Equity accounts should be recorded as follows:

Credit

• Partner's Capital / Owner's Capital
• Accumulated Profit & Loss (Retained Earnings)

Debit

• Withdrawal / Drawings

Important Note (For Akaun Simple Excel Users)

Do NOT take accounts that contain the word “Last”, such as:

• Last Inventory and Cash
• Last Assets Value
• Last Profit / Loss

These are internal adjustment accounts used by the Excel system and should not be included in Opening Balance.

Including these accounts will usually cause the Opening Balance to become unbalanced.

Simple Rule for Opening Balance

Only take accounts from the Balance Sheet, which include:

✔ Assets

✔ Liabilities

✔ Equity

Do NOT include:

✘ Sales / Revenue

✘ Cost of Sales

✘ Expenses