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Dynamics 365 Community / Forums / Small and medium business | Business Central, N... / Bank Account Opening B...
Small and medium business | Business Central, N...
Answered

Bank Account Opening Balance

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Posted on by AXEON Man 1,159
We are nearing completion of migrating our old accounting data into BC.  I need to set the opening balance entries for our checking account, and the American Express account.

According to many references, the suggestion is a journal entry that lists the bank account and then uses the related GL account as the balancing account.

This does not make sense to me.  If it debits and credits the same account, that is a "net zero" result and I need a balance to show.
 
For example, my AMEX account has a balance owing on it on 1/1/25, the date we are using as our "go live" but if I make the entries recommended, it shows a zero balance which is not accurate.
 
Any advice is appreciated.
Categories:
Dynamics 365 Business Central
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  • Suggested answer
    YUN ZHU Profile Picture
    YUN ZHU 99,055 Super User 2026 Season 1 on at
    From your description, you have two accounts, a checking account, and an American Express account. Can't you just import the balances of these two accounts through the General journals?
    If you separate the accounts in this way, the balance will not be 0.
     
    Hope this helps.
    Thanks.
    ZHU
  • AXEON Man Profile Picture
    AXEON Man 1,159 on at
    Thank you for the reply, honestly, the two accounts are not related.

    The Checking account has a positive balance as of 1/1/25 and the AMEX has a negative balance as of 1/1/25 -unrelated to each other but the problem is the same; how do I establish the opening balances for each?  Where does the balancing entry go?

    Everything I find indicates to use a general journal to add the amount to the Bank Account and use the corresponding GL account as the balancing account and the result is a zero net balance which makes no sense to me.

    Let's say I have a $10K balance in by checking account on 1/1/25 from my old system (and in the account) -no outstanding checks or what have you to keep it simple.  What journal entry do I make to establish the $10K balance in BC so my bank ledger matches the corresponding GL account?
  • Verified answer
    Sumit Singh Profile Picture
    Sumit Singh 11,757 Super User 2026 Season 1 on at

    🧾 Correct Journal Entry Approach
    You should create a dedicated G/L account—often something like 39999 - Opening Balance Equity—to use as the balancing account when entering your opening balances during migration. You can use General Journal to post these entries. The key is to balance the entry against an equity account, typically Opening Balances or Retained Earnings, not the same bank G/L account.
    🏦 Example 1: Checking Account Opening Balance
    Account Type Account No. Description Debit Credit
    Bank Account CHECKING Opening Balance 10,000.00  
    G/L Account 39999 Opening Bal Equity   10,000.00
    • Bank Account: This increases the bank ledger and G/L.
    • G/L Account (Equity): This balances the entry.
    💳 Example 2: AMEX Credit Card Opening Balance
    Account Type Account No. Description Debit Credit
    G/L Account 39999 Opening Bal Equity 5,000.00  
    Bank Account AMEX Opening Balance   5,000.00
    • This reflects a liability (you owe $5,000).
    • The credit to the AMEX bank account increases the liability.
    • The debit to the equity account balances the entry.
    📌 Notes
    • Use a specific G/L account for opening balances (e.g., 39999 - Opening Balance Equity) to keep things clean and auditable.
    • You can post both entries in the same General Journal batch if you like.
    • Make sure the posting date is your go-live date (e.g., 01/01/2025).
    Note: This response was developed in collaboration with Microsoft Copilot to ensure clarity and completeness. I hope it helps to some extent.
    Mark the Answer as Verified if this is Helpful.
     
  • Suggested answer
    Jainam M. Kothari Profile Picture
    Jainam M. Kothari 15,732 Super User 2026 Season 1 on at
    Hello,
     
    To correctly set opening balances for bank and credit card accounts during migration, you should post a general journal entry using the bank account as the account and its linked G/L account as the balancing account.
     
    Although this creates a net-zero impact on the G/L (assuming balances were already migrated), it generates the necessary bank ledger entries for reconciliation.
     
    For accounts like AMEX with a balance owing, enter a negative amount to reflect the liability, ensuring the subledger shows the correct balance without altering the G/L.
     
  • Suggested answer
    Mansi Soni Profile Picture
    Mansi Soni 8,951 Super User 2026 Season 1 on at
  • Suggested answer
    RockwithNav Profile Picture
    RockwithNav 8,947 Super User 2026 Season 1 on at
    This is a recommended approach if you just want to update the subledger not the ledger. If you have to update the GL balance then  you should be using the correct GL. If the GL balance is already loaded then we go this approach as not the add additional amount. So either way is good depends how you have executed the balance.
  • Verified answer
    YUN ZHU Profile Picture
    YUN ZHU 99,055 Super User 2026 Season 1 on at
    I see. Then you can only use the method mentioned by Sumit.
    Create an intermediary account to adjust the balance.
     
    Thanks.
    ZHU
  • Suggested answer
    Sohail Ahmed Profile Picture
    Sohail Ahmed 11,169 Super User 2026 Season 1 on at

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