How to add an opening balance to your bank account in Business Central
When setting up a new bank account in Business Central, it’s essential to establish an accurate opening balance. This balance reflects the initial amount of funds available in the account. This guide will walk you through the step-by-step process of adding an opening balance to your bank account using a General Journal in Microsoft Dynamics 365 Business Central.
How to steps…
To add the opening balance to the new bank account you will need to journal the value into the bank account via a General Journal. For example, if you want to add a balance to new Bank account:
This bank account is linked to GL 40250:
To move the value from the GL Account to the Bank account and GL Account you will need to create a ‘General Journal’. To remove the value from Gl Account and then re-add the balance into the bank account and Gl see example below.
Create the Gl account side as per below:
Then set up the balance entry on the same line for the Bank Account:
This will then move the value out and back in to the Gl Account and will update the Bank account. This is due to the ‘Account Type’ when the Transaction type is ‘Bank Account’ this will then post the value to the GL and then bank account, where if the ‘Account Type’ is set to ‘GL account’ this will just post to the nominal GL account.
Once the Journal is posted it will update the bank account:
And post the in and out line on the GL account:
By following these steps, you’ve successfully added an opening balance to your new bank account in Business Central. This ensures that your financial records are accurate and up-to-date from the very beginning. If you encounter any difficulties or have further questions, please get in touch with our support team.
