Starting / opening balance
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hi there! may I know how you enter the starting balance for Profit and Loss accounts (sales and expenses) ?
Thanks
0
hi there! may I know how you enter the starting balance for Profit and Loss accounts (sales and expenses) ?
Thanks
Comments
LucianaM,
You would either have to enter the transactions that make up the income statement individually or you could do a journal entry debiting and crediting the appropriate accounts.
Mike G, CPA
www.mgfinancial.net