How do I create an opening balance for a new contact in Zoho Books?

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.

For more information regarding Zoho Books contact us at [email protected] or leave a comment below.

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