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The term "beginning balance" refers to the precise amount of m= oney in the account before any transactions are entered to alter the balanc= e of the account. It is recommended that you enter the amount of money = currently in the account as the beginning balance, and then enter tran= sactions as they occur in the future. Remember that transactions that are d= ated as having occurred in the past will still alter the balance of the acc= ount. Note that all account types other than Income and Expense wil= l have a beginning balance that needs to be entered upon creating the accou= nt.
To enter an account's beginning balance
Once you have entered the beginning balances for your accounts, you can = begin entering transa= ctions.
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