Opening Balance Adjustments

This help article goes over the opening balance adjustment journal.

• Common opening balance adjustments can include rolling up fixed asset movements if client has broken these down into additions, disposals etc (not required if not done by client), rolling dividends into retained profit, rolling up drawings, capital introduced etc in to the opening capital accounts balance.

• These journals need to be prepared manually and are posted on the first day of the next financial year.

• See some examples below;

NOTE: If there is anything in this help article that needs updated please get in touch with the Silverfin Experts.