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How to Set Opening Balance for a Bank Account in Sumung

The Opening Balance tells Sumung what the account's balance was on the date you started tracking it in the system. When adding a manual account, fill in the…

Steps

  1. When adding a manual account, fill in the optional "Opening Balance" field with the balance as of your start date.
  2. Set the matching "Opening Balance Date" - this is required whenever an opening balance is entered.
  3. If you leave both blank, Sumung uses your first imported statement line as the starting point instead.
  4. You can update these later via "Edit Account Details" if the original figure needs correcting.

Related Articles

  • How to Add a New Bank Account in Sumung
  • How to Adjust Incorrect Balances in Sumung
  • What Details Are Required to Create a Bank Account in Sumung

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