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Treatment of opening balances in trial balance - Printable Version

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Treatment of opening balances in trial balance - imran1981 - 12-22-2016 11:01 AM

Hello to all members and admins

I am new to this forum. I have a question about treatment of opening balances.

I am creating a spreadsheet acctually. I have opening balances of some assets and liabilities accounts.
and with these balances I maintained a General Journal and wanted to prepare trial balance.Now because some of accounts have either debit or credit opening balances the transactions of which are not recorded into the new journal, the trial balance shows difference that is equal to the opening balances .How can I reconcile it.The opening balances are necessary to be included into the new balances. I am stuck with this problem. Please guide me.

Best Regards
Imran Bhatti