For small accounts where there are no un-presented items the conversion balances can be entered manually. Set up any ledgers with held funds prior to entering the conversion balance.
There are 2 parts to conversion balances:
- the bank account balance and how it is allocated amongst the ledgers - this article deals with the bank account balances; and
- the tenants balance for paid to date and bonds or security deposits - ensure you also do this, before or after the bank balances step, see Setting a rent opening balance.
To enter the bank and ledger balances:
- select Trust Accounts or Client Accounts from the green menu
- select the trust account to convert
- click the large red tile:
- Enter the opening balance date and amount
- Enter an opening balance for each ledger on the list