Opening Balance Entry Post assets & liabilities ONCE — Capital auto-balances

  1. Home
  2. Chart of Accounts
  3. Opening Balance Entry

Opening Balances (one-time)

How to fill

Enter amounts only for accounts that are NOT already tracked by the system ledgers — e.g. Fixed Assets, an old Loan, extra Capital investment, or any manual account. Assets are posted as Debit, Liabilities as Credit, and the remaining difference goes to Capital automatically. System-ledger accounts (Bank / Customers / Suppliers / Inventory / Sales / Expenses) already carry their own balances — do NOT enter them here again.

Account Type System Balance (reference) Opening Amount Dr / Cr
1128 - Bank: Bank Alfalah LC Asset — Debit
1129 - Bank: Meezan Bank JSA Asset — Debit
1130 - Bank: Bank Alfalah KH Asset — Debit
1131 - Bank: CASH Asset — Debit
12001 - HUSNAIN ENTERPRISES Asset — Debit
12002 - M. AFZAL ENTERPRISES Asset — Debit
12003 - MUHAMMAD AFTAB Asset — Debit
12004 - ISRAR KHAN Asset 2,452.20 Debit
12005 - MUMTAZ MANGI Asset — Debit
12006 - JUNAID AHMED QAZI Asset — Debit
1201 - Sales Tax Paid (Receivable) Asset — Debit
1202 - Sales Tax Collected (Payable) Liability — Credit
1203 - Advance Income Tax Asset — Debit
1300 - Inventory - Stock at Cost Asset — Debit
1301 - Empty Can/Drum Used Asset — Debit
1501 - Land Asset — Debit
1502 - Building Asset — Debit
1503 - Furniture Asset — Debit
1510 - Fixed Assets (General) Asset — Debit
21001 - PAKISTAN PRINTING SUPPORT Liability 733,065.00 Credit
21002 - HAMMAD PACKAGES Liability 590,175.00 Credit
21003 - PACIFIC PLASTIC INDUSTRY Liability 1,248,051.00 Credit
21004 - Z.H TRADERS Liability 270,000.00 Credit
21005 - BUCKET SUPPLIER Liability 465,000.00 Credit
21006 - M. AYUB DRUM SUPPLIER Liability 525,000.00 Credit
21007 - MATRIX PVT LTD Liability 4,521,500.00 Credit
21008 - BURRAQUE OIL Liability 7,570,633.00 Credit
21009 - RAVOLINE Liability 8,185,546.00 Credit
21010 - NATIONAL REFINERY LIMITED Liability 7,602,048.00 Credit
21011 - UNIVERSAL PETROLEUM Liability 9,064,664.76 Credit
Capital (balancing figure) will be: -