1 Our Birth is our Opening Balance!

2 Check that accounts named OB (Opening Balance) also are coded as OB (reconcile code I or J and rate Code I).

3 The minimum account opening balance had to be $50, which was a lot of money in a community where the majority of people were on welfare.

4 Interest accrued but not paid at the end month will be capitalised and form part of the opening balance in the next month on which further interest shall accrue.

5 Financial management subjects, delete the accounting field is the main subjects of the accounts set up for the opening balance.

6 As the word " reconciliation" suggests, this section starts with an opening balance which is the carryover from the previous month's operations.

7 The working papers of all types of fixed assets to reflect the opening balance, this year to increase the amount of retirement this year and the end of balance.

8 Find out if the interest quoted by them is on reducing balance method or flat on the opening balance.