Purpose: Opening Balance allows users to bring in past balances from their old accounting system to ASPLUS. This ensures a smooth transition and accurate financial reporting from day one.

🧠 What is an Opening Balance?

An opening balance is the amount of money in your accounts at the start of using ASPLUS. It includes:

• Cash & bank balances
• Debtors (outstanding customer invoices)
• Creditors (unpaid supplier bills)
• Inventory, loans, or equity balances (if applicable)

These figures should be based on your closing balances from the previous system, typically as of the last financial year-end or the day before migration.

🔁 How does it affect your accounts?

Once entered:

• It updates relevant account balances under your Chart of Accounts.
• It creates a starting point for tracking:
  • Customer payments
  • Supplier bills
  • Cash or bank movement
• It reflects in Balance Sheet, Trial Balance, and Ledger reports

📝 Steps to Record Opening Balance in ASPLUS

1. Go to Menu:
   • Navigate to Accounting > Opening Balance
2. Select Account:
   • You’ll see a list of accounts (Cash, Bank, Customer, Supplier, Equity, etc.)
   • Choose the relevant account (e.g., “Maybank Account” or “Accounts Receivable”)
3. Enter Amount:
   • Enter the correct opening amount (positive or negative depending on the account type)
4. Date of Balance:
   • Select the date you are starting your ASPLUS account from (e.g., 01/01/2025)
5. Save:
   • Click the Save button. The system will automatically update your general ledger.

📌 Tips Before You Start

• 📂 Prepare your closing Trial Balance or reports from your previous system.
• 📅 Choose a clean cut-off date (e.g., end of last month or financial year).
• 📊 Use the Chart of Account module to check if all relevant accounts exist before entering balances.