Opening Balances

Setting up your opening or beginning balances can be through Odoo import in various formats such as CSV and Excel files; or manually create journal entries.

Import an Opening Balance

Video Tutorial: Import an opening balance | Odoo Accounting

Manually Create Journal Entries

General Balances

1. Go to the Accounting module
2. Accounting > Journal Entries
3. Click New 

Note that the Accounts Receivable and Accounts Payable accounts should not be included in the journal lines, a Suspense account could be used for the net amount.

Accounts Receivable and Payable Balances

1. In Accounting > Journal Entries > click New

Set your Accounts Receivable balances by partner (customer) balances. Note that the same Suspense account used when setting up the general balances, must be used as the balancing account for the A/R, beg journal entry. 

2. Once posted, the same approach can be applied in creating the Accounts Payable balances.