Beginning Balances

You may have beginning balances you would like to transfer from another application.

There are many variables that affect how you should move the balances to Studio Designer.
A journal entry will normally be used to transfer beginning balances and all balances would be entered as part of the same journal entry.
For detailed instructions please see our guide that will assist you with your accounting conversion to Studio Designer HERE.

Studio Designer utilizes double-entry accounting which means that all entries must have two sides. If you would like to only enter a cash balance, please check with your accountant about what account you should use to offset the cash account balance entry, then you can enter the balance using a Money In transaction.

The following can be used to post a beginning balance:

Step 1. Select: Accounting>Money In

Step 2. Payment Method: Receive Miscellaneous Payment

Step 3. Enter Payment:

Received From: Your Design Firm
Check #: BB
Description: Beginning Balance
Cash Account: Cash Account the balance belongs to
Income Account: The account your accountant suggested you use to offset the entry

Step 4. Select: Post Payment

Note: Additional Account types can be used to offset the entry in Step 3. Consult with a CPA to confirm which account type should be used.