In this document we will be going over how to enter an opening balance in esiLaw 360. 

*NOTE*

In this example the cut off day is April 30th 2021.

Step #1:

You should have a balanced trial balance report from other accounting software.

Step #2:

To enter opening balance of unbilled time and disbursement, trust balance and unpaid bills in client’s ledger, you want to enter it as seen below (example #1). Import opening balance of client’s transaction will automatically update associated general ledger account with opening balance, such as WIP Fee, WIP DISB, AR Fee and DISB, Trust bank and Trust liability. Therefore, you don’t need to enter opening balance on those GL accounts..

Example #1

Example #2

Step #3:

Before you start, you want to run report (see below) and make sure you don’t enter any opening balance in this step (for the GL account showing on the report below). The opening balance are entered automatically (see step #2).

To enter the opening balance of remaining General Ledger accounts by Journal Entry, please refer the attached video (Opening Balances of GL by JE - Audio.mp4). Before you post the Journal entry, make sure your have total Debit(+) equals to total Credit(-).

AR = Accounts Receivable , GL = General Ledger, DISB = Disbursement , WIP = Work In Progress