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Entering initial balances is an important task when you migrate your accounting data to another application or when you start using an application for the first time (switching from manual recording or form from a legacy application).
Using an Opening Balances Entering document, you can enter opening balances for various accounts. The documents should contain information on GL account balances on the date which is the year end date or the end date of the period that precedes the period in which you start to enter current  transactions in the application.
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