Entering your opening balances is crucial because they represent the financial position of your business on the day that you start using Sage One. The documents that you require are

  • Bank statements at the prior year end

  • Outstanding sales invoices (that is, those that are unpaid at the year end) or Aged Debtors report

  • Outstanding purchase invoices (that is, those that are unpaid at the year end) or Aged Creditors report

  • Opening Trial Balance from your accountant (if you’re an existing business and moving from another accounting system to Sage One)