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Configure your books · 5 min

Enter opening balances

Bring an existing set of books into Libro without mixing opening amounts with current activity.

Before you start

Reconcile the old system through the day before Libro’s accounting start date. Prepare the final Trial Balance and the customer, supplier, and member detail that supports each control-account total.

Enter the cutover amounts

  1. Open the company setup or opening-balance workflow and confirm the accounting start date.
  2. Choose the supported entry or import mode and use the provided template when importing.

Libro opening-balance workflow showing account and entity balances

  1. Enter each General Ledger balance with the correct debit or credit direction.
  2. Add customer, supplier, and member opening details so their individual ledgers support the related control accounts.
  3. Resolve every validation issue and make total debits equal total credits for double-entry books.
  4. Review the generated opening entry, then confirm it only after matching the source balances.
  5. Run a Trial Balance at the start date and compare it line by line with the old books.

Check your work

The difference must be zero, entity-ledger totals must equal their control accounts, and no current-period sale, purchase, receipt, or payment should be duplicated as an opening amount.

Common mistakes

  • Entering the same invoice as both an opening balance and a current transaction.
  • Hiding a source difference in unrelated income or expense.
  • Importing only the control account and losing the customer or supplier detail.