Zoho Books is a smart accounting system designed for growing businesses. In this section, we are going to discuss how one can create an opening balance for a new contact in Zoho Books. By following the steps given below, an opening balance for a new contact can be created:-
- After creating a new contact, you will click on New Transaction under the Contact Details Page to start a new transaction.
- If the opening balance is to be assigned to a customer, create either an invoice or a credit note depending on whether its a debit or credit balance.
- Now mention ‘Opening balance’ under the item details, and save changes to associate that amount with that customer.
Follow the similar steps for a vendor. For vendor create a bill to display a debit balance or an expense to display a credit balance, and save changes.
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