Manual entering opening balances

Renee Wakeling

• 02 April 2026 10:21

Hi, I am manually entering opening balances, I seem to have entered the investments and the members balances correctly, but I am able to enter the final balancing entry on the prior yr balance sheet which is a current tax asset of $6,405.25. When i try to enter this as a journal it does not allow the prior yr date of 30/6/25 it gives the following warning: Date entered is before the System Start Date in Entity Details. This is used for Opening Balances, no system journals will be created for these transactions. I am not sure what to do as I am entering opening balances. I also will need to enter the operating statement amounts but I assume i will get the same error. Any advice?

Kind regards

Renee Wakeling

0

• Official comment

  

  Christopher Banks

  • 08 April 2026 01:45

  Hi Renee,

  This warning will be displayed for all transactions you are entering. The warning is to let you know that the transaction being posted occurs before the System start date.

  The System Start Date is the date the fund became active in Simple Fund 360 (the first active financial year of transaction processing in Simple Fund 360). Automated system journals, such as profit allocation and revaluations, will commence as of the system start date. 

  Any transaction being posted before the system start date will be considered by Simple Fund to be an opening balance transaction and will not generate a system journal.

  We do not want system journals generated in the opening balance period, as these journals will not rollover to the next financial year correctly. This is due to the process for rolling over to the next financial year being different for opening balances. How to roll over the fund to the next year in opening balances

  You can disregard the warning and post the current tax asset transaction and the transactions for the operating statement in the opening balance period. How to enter Opening balances

  I hope the above answers your post and if there are any further questions, please reply to let me know so I may assist further.

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