Company Creation: Opening balances

This is the sixth and last step of the company creation process. You input the starting amounts in your accounts.

The three steps are:

1. Input the starting amounts of all active accounts.
2. Input the starting amounts of all passive accounts.
3. Confirm and finish the creation process

Or jump directly to the Opening balances troubleshoot.

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1) Input the starting amounts of all active accounts. You can add a line by clicking on “Add a booking”.

1. Choose the account: Choose the corresponding account in your chart of accounts. If an account is missing, please go back to “Chart of accounts – 2” to complete your chart of accounts.
2. Type: Choose between debit or credit.
3. Amount: Input the starting amount.

Once you’ve done it for all the active accounts, please continue with the passive accounts.

 

2) Input the starting amounts of all passive accounts.

1. Choose the account: Choose the corresponding account in your chart of accounts. If an account is missing, please go back to “Chart of accounts – 2” to complete your chart of accounts.
2. Type: Choose between debit or credit.
3. Amount: Input the starting amount.

Once you’ve done it for all the passive accounts you can pass to the third point below.

3) Confirm and finish the creation process

You can only confirm if the total of all the debit amounts equal the total of all credit amounts. The following part highlight how much is the difference

Once debit equal credit, confirm that you inputted all information.

Congratulation! You’ve created your company’s accounting and are automatically redirected to the “My companies” page where you can start booking in your new accounting.

 

Chart of accounts Troubleshoot

• I cannot find why the total debit is not equal to the total credit.: First double check that the balance sheet you try to input in EZYcount balance. If this is the case, then check line by line to make sure that you inputted all data. Be aware that an active account can have credits and that a passive accounts can have debits.

If you need further support, please contact support@ezycount.ch.