1st Time Beginning Balances / Edit Balances for Expenses & Ledger

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Enter beginning balances for each asset, liability and equity account as needed. In most cases revenue and expenses begin the year at zero. Typically these balances are entered just once when you first begin using Procare. In subsequent years you’ll use the Calculate feature to determine beginning balances.

It’s important to have correct beginning balances in order to get meaningful financial reports. Please contact your accountant for help in this area.

See Also: Calculate Balances for New Year

Before You Begin

If you are converting from version 9 please read the article on Beginning Balances After Conversion.

Getting There

From the Procare Home screen click Configuration > System.
Go to Accounting Management > Expenses & Ledger > dbl-click Beginning Balance.

Enter New Balances

At the Beginning Balances screen:
1. If you have more than one region click Change Region to select the region for these balances.
2. To view or change your calendar dates click GL Dates (optional).
3. To enter balances click New then choose an As Of Date for these balances, usually the last day of your prior fiscal year (like Dec. 31st) and click Start.
At the Beginning Balances Editor:
1. Click a tab (at the top) like Assets, Liabilities or Equity then click the plus sign (+) next to a sub-category like “Current Assets” to display the Account Number and Description.
2. Enter the Amount for each account as needed.
Click Review (lower left) to make sure the sum of the debit accounts is equal to the sum of the credit accounts. Make any adjustments to your balances as needed.
Click Save > Exit.

Edit or View Existing Balances

At the Beginning Balances screen a list of any previous balances (for the selected Region) will be displayed including the As Of Date and totals for Debits and Credits.
1. If you have more than one region click Change Region to select a different one, if needed.
2. Dbl-click anywhere on the line such as on the As Of Date then choose Edit.
At the Beginning Balances Editor:
1. Click a tab (at the top) like Assets, Liabilities or Equity then click the plus sign (+) next to a sub-category like “Current Assets” to display the Account Number and Description.
2. Edit the Amount for each account as needed.
Click Review (lower left) to make sure the sum of the debit accounts is equal to the sum of the credit accounts. Make any adjustments to your balances as needed.
Click Save > Exit.