FAQCategory: Zeta ERPHow to enter opening balance in Zeta ERP?
admin Staff asked 1 year ago

How to enter opening balance in Zeta ERP?

1 Answers
admin Staff answered 1 year ago

The opening balance is the balance that is used to record the balance of Assets and liabilities ( ie, balance sheet items)at the time of start using the application. The opening balance should be entered only on the first financial year. Once the year end is done the balance is automatically carry forwarded to next the financial year (It is done by the application itself). We can enter the opening balance either in foreign currency or in base currency. In the case of foreign currency the opening balance should be entered in the Fgn. Debit column or in the Fgn. Credit column and the amount entered here will be converted to the base currency according to the EX. rate given.