Elven Docs
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  • Getting Started
  • System Configuration
    • Getting started with Elven
    • Project and Entities
      • Choose an Accounting Start Date
    • Inviting team members
    • Viewing activity logs
  • Financial Configuration
    • Configure Chart of Accounts
    • Configure Journal types
    • Configure Auxiliary Accounting
    • Setting Account Opening Balance
  • ACOUNT MANAGEMENT
    • Importing account balances
    • Importing transactions
      • Importing derivatives transactions
    • Verifying account balances
    • Counterparty Accounts Management
      • Managing counterparties
      • Automated counterparty identification
  • Transactions management
    • Transactions overview
  • Bookkeeping
    • Accounting with transaction data
      • Tagging of transactions
      • Rule based tagging
    • Accounting with business data
      • Importing business data using API
      • Importing business data with CSV file
      • Automated bookkeeping of business data
  • ASSETS AND VALUATIONS
    • Assets management
      • Add tokens via smart contract
      • Customising price feeds for assets
    • Fair value of Crypto assets and adjustments
    • Currency exchange (FX) PnL adjustment
    • Derivatives unrealized PnL adjustment
    • Broker business inventory management
  • RECONCILIATION
    • Transaction Reconciliation
  • REPORTS
    • Trial balance
    • Account Balance sheet
    • Financial statements
    • Crypto assets disclosure form
    • Dashboard
  • OpenAPI
    • Obtaining API Authorization
    • Import Business Data
    • Create Account
    • Query Account
    • Create Source
    • Query Source
    • Import Transfer
    • Import Trade
    • Import Gain/Loss
    • Import Account Balances
    • Import Price
    • Query Platform
    • Query Currency
    • Timezone
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On this page
  • 1. Accessing the Charts of Accounts management page
  • 2. Enter Account Opening Balances

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  1. Financial Configuration

Setting Account Opening Balance

PreviousConfigure Auxiliary AccountingNextImporting account balances

Last updated 4 months ago

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This page illustrates how to set up initial account balances in the general ledger system, including navigation path, account selection, data entry, and balance verification steps.

1. Accessing the Charts of Accounts management page

  1. On the project homepage, navigate to Ledger > Chart of Account

  2. Click the "Opening Balance" button in the top right corner to begin entering account initial balances.

2. Enter Account Opening Balances

  1. Select accounts from assets, liabilities, and equity categories to enter initial balances.

  2. Support for entering amounts in original currencies.

  3. Support for entering initial balances with auxiliary accounting dimensions.

  4. When the entered initial balances satisfy the equation Assets = Liabilities + Owner's Equity, click the "Save" button to complete the setup.