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Entering Your Opening Balances in Sage One: Your Checklist

Part of the Sage One For Dummies Cheat Sheet (UK Edition)

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)

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