Entering project opening balances

When you set up a project for the first time and the project has some transactions associated with it, you can enter opening balances for cost or revenue items in the project.

Open: Project Accounting > Enter Transactions > Enter Cost Opening Balances

Open: Project Accounting > Enter Transactions > Enter Cost Opening Balances

  1. Enter the date, and the reference and second reference if required.

  2. Add each adjustment on a new line, and specify its details:

    1. Select the project.
    2. Select the project item.
    3. Enter a description for the entry as the narrative, if required.
    4. The default goods value for the item will be displayed. You can amend the value, if required.

    Note: To display more information, click Show details to show the quantity, cost rate, unit of measurement, and charge rate.

  3. When you have finished entering the opening balances, click Save.