Superannuation Opening Balance
I am setting up a new Reckon Accounts Premier 2020.
I need to add an opening balance for the Superannuation payable amount from the previous software package. If I enter an amount into the opening balance of the account the transaction is:
DR Superannuation Payable & CR Opening Balance Equity
I am assuming that once all opening balances are entered that the Opening Balance equity should equal the old files equity amount?