BasisBasis
Settings

Opening Balances

Enter the starting balances for all GL accounts, outstanding AR/AP invoices, and inventory stock when migrating to Basis from another system.

Menu: Settings → Opening Balances · Route: /admin/opening-balance

Enter opening balances before recording any regular transactions. The page has three separate tabs for GL accounts, AR/AP outstanding bills, and inventory stock.

Tab 1 — GL Accounts

Enter the opening debit or credit balance for each account in the chart of accounts. All GL accounts are listed, grouped by main type (Asset, Liability, Equity, Revenue, Expense).

For each account row, enter:

FieldNotes
CodeAccount code — read only.
Account NameAccount name — read only.
SideDebit or Credit — matches the account's normal balance. Asset & Expense accounts default to Debit; Liability, Equity & Revenue default to Credit.
AmountOpening balance amount in base currency. Leave at 0 to skip an account.
NarrationOptional note (e.g., "As per Trial Balance 31 Dec 2024").

Click Save GL Balances. Saving replaces all previously entered GL opening balances in one batch. You can re-save as many times as needed until you start entering regular transactions.

Opening balance gl

Tab 2 — AR/AP Outstanding Bills

Enter individual invoices that were already issued or received before the Basis start date but have not yet been paid. These populate the AR Aging and AP Aging reports and the open invoice list for payments and receipts.

Each row represents one outstanding invoice:

FieldNotes
PartyCustomer (for AR) or Supplier (for AP).
TypeAR (Accounts Receivable) or AP (Accounts Payable).
Invoice NumberOriginal invoice number from the previous system.
Invoice DateOriginal document date.
Due DatePayment due date for aging calculation.
AmountRemaining outstanding balance (not the original invoice total).

Tab 3 — Inventory Stock

Enter the opening stock quantities and values per item and per location. The system displays a matrix where rows are items and columns are locations. Enter the quantity and unit cost for each item-location combination that has stock.

The opening stock value is calculated as Quantity × Unit Cost. This is used as the starting point for Weighted Average Cost (WAC) calculations on subsequent transactions.

Only Goods-type items appear in the Inventory tab. Service items do not have stock.
  • Chart of Accounts — accounts must exist before entering GL balances
  • Parties — customers/suppliers must exist before entering AR/AP bills
  • Items — items must exist before entering inventory stock
  • Trial Balance — verify GL opening balances after entry