Opening bank balance

Entering an opening bank balance is as simple as creating a new receipt from your bank. This will increase the bank balance from the receipt date.

โš ๏ธ The opening balance should not be recorded as a journal entry.

๐Ÿงญ Navigation Menu

Finance โžก๏ธ Banking โžก๏ธ Bank Transactions โžก๏ธ Add Receipt

๐Ÿท๏ธ Example

For this example, we enter $100 as our opening bank balance on 11th December 2022.

1. Click on the Add Receipt button in your bank transactions.

receive money form

2. Fill out the form

receive money form

Form Fields

  • โœ… The Pay To field is the bank you wish to enter the current balance.
  • โœ… On the Basic Data tab, select the account you wish to use. In this example, we will select 3110, which is an Ownerโ€™s Capital account.

๐Ÿ Results

1. The bank balance in your Gimbla system should now be $100.00.


2. If you look at the account transaction report, you can see the double entry which debits the 1110 - ANZ Business Essentials and credits the 3110 - Ownerโ€™s Capital account.

account transactions

โ–ถ๏ธ Video Tutorial