The Opening Balances settings page allows the user to configure the initial financial year for your business as well as import/export the opening balances for employees in the business.
A short video on this setup can be found here.
To get to the opening balances settings page, go to Payroll settings > Opening balances.
The following page will be displayed:
The initial financial year for the company may be adjusted here. This is the year that the opening balances for Gross/PAYG/Super will apply to. (Leave balances are simply adjusted by the opening balance specified).
Note that opening balances have an effective 'Date Paid' of 2nd of July in the financial year that you specify. To include opening balances in reports, the report period should be run from 1/7 of the initial financial year.
- To Import the opening balances, click on the 'Import' button
- To Export the opening balances to a CSV or Excel file, click the 'Export' button
- To configure the opening balances for a specific employee, open up the employee file and then go to the Opening Balances section.
If you have any questions or feedback please let us know via firstname.lastname@example.org