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BiranBiran Member Posts: 2

Hello experts,
I am new to wave so can you please help me.

I tried to enter the opening balances of assets in wave. But, the problem is that it is not showing at the opening balances at the account balance which is under chart of accounts. Please help me

I am posting an image

in Accounting Technical Support

Comments

  • BarsinBarsin Member, Moderator Posts: 2,041 ✭✭✭

    Hey there @Biran

    Welcome to Wave's community!

    First I'd like to link you to our Starting Balances article. Give this a read and let us know if it sheds any light

    Second, my guess might be the date of the starting balance transaction. Are you able to send us a screenshot of the details for the transactions you entered for your starting balances?
    Thanks!

  • BiranBiran Member Posts: 2

    Hello.
    Thank you for your response.

    Please have a look at the images that i will help me to share my Problem for showing starting balances in chart of accounts.

    I want to add opening balances of Inventory. Please find below the image

    I have put everything as instructed to opening balances. Then i updated my report but i it did not show in as opening balance in my chart of Accounts. Please find the image.

    Please help me.

    Thank you

  • JordanDJordanD Member Posts: 515 ✭✭✭

    @Biran According to the article, a journal transaction should be used to enter a starting balance if the account type is a credit card or loan account. Inventory is commonly known as an asset to the business, so I would recommend following the steps similar to a bank account in which you would use a regular transaction. Since it sounds like you are working with tracking inventory costs in Wave, we do have another guide that should be helpful here: https://support.waveapps.com/hc/en-us/articles/208623546-How-to-track-inventory-in-Wave

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