How to enter an opening balance for a new credit card (Bank Account).

Zumzum Financials Knowledge Base


    How I can enter an opening balance for the credit card so that it will also reflect on the bank reconciliation.


    To set up new Credit Card Accounts so that you are able to track the balances individually, then please follow these steps:
    1. Add a new nominal code under Current Liabilities in the range of 1200-1299 (For a code that is not used at the moment)
      • IF you have an opening balance, please enter that in Setup (Zumzum) > Opening Balances
    2. Create a new bank account and link to the Nominal Code created in step 1, above
    3. Go the Bank tab and select the type of bank transaction, e.g. Bank Payment and you will see your new bank account.
    in BankGetting StartedSetup