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When migrating to ABSS for the first time, entering accurate opening balances is essential for reliable financial reporting. These balances include:

• Account balances
• Job balances (if applicable)
• Customer balances
• Supplier balances
• Inventory balances (if applicable)

This guide walks you through each step to ensure your setup is complete and accurate.

Step 1: Prepare Your Opening Balances

Before entering anything into ABSS, gather:

• Your Trial Balance from the previous financial year
• A list of outstanding customer invoices
• A list of outstanding supplier bills
• Inventory quantities and values (if you track inventory)

Step 2: Enter Account Opening Balances

1. Navigate to Setup, Balances, Account Opening Balances.
2. Enter the balances for each account based on your trial balance.
3. Ensure total debits equal total credits. If not, ABSS will show an Amount left to be allocated at the bottom.
4. Click OK to save.

Tip: Consult your accountant if you’re unsure which accounts to update.

Step 3: Enter Customer Opening Balances

1. Go to Setup > Balances > Customer Opening Balances.
2. For each customer:
   • Enter the invoice number, date, and amount due.
3. Repeat for all customers with outstanding balances.
4. Ensure the total customer balance matches the Accounts Receivable balance in your trial balance.

Out of Balance Warning: This appears if the total customer balances do not match the Accounts Receivable control account. It indicates a discrepancy that must be resolved.

Step 4: Enter Supplier Opening Balances

Out of Balance Warning: This indicates a mismatch between supplier balances and the Accounts Payable control account.

1. Go to Setup > Balances > Supplier Opening Balances.
2. For each supplier:
   • Enter the bill number, date, and amount due.
3. Repeat for all suppliers with outstanding bills.
4. Ensure the total supplier balance matches the Accounts Payable balance in your trial balance.

Step 5: Enter Inventory Opening Balances (Correct Method)

Inventory balances are not entered via Setup > Balances. Instead, follow these steps:

Step 5.1: Enable Inventory Tracking

1. Go to Setup > Preferences > Inventory.
2. Tick I Buy and Sell Inventory.
3. Confirm that the Inventory Asset account is correctly linked.

Step 5.2: Create Inventory Items

1. Go to Inventory > Items List.
2. Click New to create each item.
3. Fill in:
   • Item Number & Name
   • Buying & Selling Details
   • Linked Accounts (especially Inventory Asset)

Step 5.3: Enter Opening Quantities and Values

Use the Adjust Inventory feature:

1. Go to Inventory > Adjust Inventory.
2. Select the item.
3. Enter:
   • Quantity on Hand
   • Unit Cost
   • Adjustment Date (usually the first day of the financial year)
4. Ensure the adjustment posts to the correct Inventory Asset account.

Step 5.4: Verify Inventory Value

Run the Inventory Value Reconciliation Report:

• Go to Reports > Inventory > Inventory Value Reconciliation
• Confirm that the total matches your Inventory Asset account in the trial balance.

What Does “Out of Balance” Mean?

In ABSS, Out of Balance refers to a mismatch between:

• Customer balances and the Accounts Receivable account
• Supplier balances and the Accounts Payable account

This usually happens when:

• You forget to enter a customer or supplier balance
• You enter incorrect amounts
• The control account balances were entered incorrectly

To fix it: Recheck your entries and ensure the totals match your trial balance.

Final Tips

• Always back up your data before making major changes.
• Use reports to verify accuracy.
• If unsure, consult your accountant or reach out to support.