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Conversion Balance

Conversion Balance lets you set up opening balances when you start using the system — ensuring your books begin with accurate financial positions, correct account balances, and proper alignment with your previous system. This is typically done once during initial setup or migration. Without conversion balances, reports are incomplete, your opening position is incorrect, and reconciliation becomes difficult.

Where to find it: Accounting → Conversion Balance.

Workflow​

Step 1: Set the conversion date​

The date from which your accounting records begin. Best practice: use the start of your financial year, matched to your previous system's closing date.

Step 2: Enter opening balances​

Add a balance for each account — typically bank accounts, cash, accounts receivable, accounts payable, fixed assets, liabilities, and equity. Each row is one account balance.

Step 3: Review totals​

The system requires Total Debits = Total Credits. If they don't match, correct entries or add a balancing adjustment (usually to an equity account).

Step 4: Save​

Once balanced, save — your books are initialized. Avoid frequent edits after this point.

Fields explained​

  • Conversion Date — when your accounting records begin.
  • Account — select from your Chart of Accounts.
  • Balance — the opening balance; positive or negative based on type, with debit/credit interpreted automatically.
  • Description — optional internal note.
  • Add Row / Delete Row — add or remove account entries.

Managing entries​

Add entries with Add (select account, enter balance, optional description); edit balances directly in the table with instant updates; delete rows via the delete icon. Multiple accounts can be added at once, and the system maintains running totals.

Validation​

The system automatically checks debit vs credit totals and flags missing or incomplete entries. You cannot proceed unless Total Debits = Total Credits.

Common scenarios​

  • Migrating from another software — use closing balances from the previous system, and ensure all accounts are mapped correctly.
  • Starting fresh books — enter initial capital, bank/cash balances, and liabilities.
  • Mid-year migration — use balances as of the migration date to preserve partial-year accuracy.

Best practices​

Before entering data: finalize previous-system reports, verify closing balances, and clean up inactive accounts. While entering: double-check each account, enter complete (not partial) balances, and use descriptions. After setup: validate the Balance Sheet and P&L against your previous system, and lock data if possible.

Permissions​

Admin — full access (create, edit, save). Accountant — enter and modify balances. Viewer — read-only.

FAQs & troubleshooting​

Can I edit conversion balances later? Yes, but changes may impact reports — avoid edits after transactions begin.

Do I need to enter past transactions? No, only opening balances.

Debit/credit mismatch? Recheck all entries; add an adjustment entry if needed.

Incorrect reports? Verify opening balances and compare with your previous system.

Missing accounts? Ensure the Chart of Accounts is fully set up first.