Finalizing beginning balances

After you reconcile all your beginning balances, you are ready to finalize them. When you finalize your beginning balances:

• The Beginning Balances option disappears from the > Setup > Company menu.
• You cannot create new entries dated earlier than that of your beginning balance date.

To finalize beginning balances

1. From the > Setup > Company menu, select Preferences.
2. Ensure that all the information you entered is in balance.
3. Ensure that you match cash, accounts payable, accounts receivable, and work-in-progress (assets and unbilled revenue).
4. In the Beginning Balances box on the General tab, select the Complete check box.
5. Click Save .

Note:

If you need to change any beginning balance entries, clear the Beginning Balances Complete check box.