Update Current Liabilities

Before importing current liabilities, make sure that you have created the required ledgers under Chart of Accounts > Liabilities > Current Liabilities group.

To import details of current liabilities:

  1. Go to: Accounting > Masters and Accounts > Journal Entry > New.
  2. Enter Posting Date.
  3. Select the appropriate current liability ledgers in the Account column and enter the value in the Credit column.
  4. Select 'Temporary Opening' ledger in Account and enter the balancing amount in Debit column.
  5. Set 'Is Opening' to Yes.

To know about Journal Enter in detail, visit this page.

Opening Balance Current Liabilities