How to Record an Opening Balance for a Bank Account

Overview
Set an accurate starting balance when you first add a bank account to Laywork.

Steps

1. When adding a new account, enter the Opening Balance field.

2. If missed, edit the account and update Opening Balance.

3. Click Save.

Tips

• Match your bank statement’s closing balance on the “as of” date.

• Use the same date in your accounting system to avoid reconciliation discrepancies.

Troubleshooting / FAQs

• Q: Opening balance doesn’t match statement.

  • A: Verify currency and any pending transactions.