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Starting Balances

Admin · 13 Mar 2026 · 2 min read

Access the Starting Balances feature under the Settings tab.

Why Use Starting Balances Instead of Journal Entries?

You may consider using a journal entry to establish opening balances. However, a journal entry can become lengthy and complex. Additionally, starting balances are not limited to accounting debits and credits only. For instance, if the Inventory Items tab is enabled, you may need to record management-related balances such as quantities on hand, quantities to deliver, and quantities to receive, which are not strictly accounting entries.

Entering Starting Balances for Specific Tabs

Accounter provides separate entry screens for entering starting balances for specific accounts and records. These dedicated screens simplify the process and help ensure accuracy when setting up your records.

To create a new starting balance, navigate to Settings > Starting Balances, select the starting balance type and click the New Starting Balance button.

Special notes for starting balances

The balancing entry (contra accounting entry) for starting balances is automatically posted to the Retained Earnings account. This ensures that all transactions adhere to the double-entry accounting principle. If you use a combination of transaction entry and starting balances to record opening balances for a business, the transactions has to be cleared to the retained earnings account as well.

Sales and Purchase Invoices starting balances are used to record partial payments already made on invoices in a previous accounting system, effecting the outstanding balance of invoices. Create the Invoices under the Sales Invoices or Purchase Invoices tabs, using the original invoice amount, before recording partial payment starting balances.

The remainder of starting balances types are used to record the opening balance of the account or record.