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How do I create a journal entry for opening an account balance?

Debit bank accountCredit cash


How can one enter opening balance entry for tally software?

opning balance of sundry debtors


What is the journal entry of the opening stock?

opening stock is the stock at the end of previous year which is being carried forward to next year. so it is treated as opening balance (asset) n the following journal entry will b passed opening stock Dr. to liabilities *if liabilities are not there then capital is to be credited


What is opening balance control account?

we should entry the opening balance to account for total balance ,That adjustment is opening balance control


What is the journal entry for deposit to bank account for beginning a business?

Journal entry for opening a bank account


What is the Journal entry for opening stock?

don t known


What is the opening journal entry for paid up capital?

capital


How do you record a journal entry in QuickBooks?

To record a journal entry in QuickBooks, go to the Company menu, select Make General Journal Entries, enter the date and journal entry number, choose the accounts to debit and credit, input the amounts, and save the entry.


Why do you need to reverse a journal entry?

According to my understanding and my study in accounting, the reversal of journal entry merely is for the opening balances for a new year of accounting period


What is the journal entry for LC opening?

latter of cedit expenses is debit and cash credit


What is opening journal entry?

[Debit] cash / bank / goods [Credit] Owner's equity


Why use journal entry?

Journal entry is the first step in accounting process and it is used to record the business transections and without recording journal entry it is not possible to generate any kind of report as well as preparation of income statement or balance sheet.