How to Add Opening Balances in Wafeq?

To start your accounting on the right foot when switching to Wafeq, enter the opening balances of your accounts as follows:

1. Prepare the balances from the trial balance in your previous system.

2. Make sure the relevant accounts already exist in Wafeq’s Chart of Accounts.

3. Go to "Manual Entries" and click the "Add" button.

4. Add each balance to the correct account.

5. Ensure the entry is balanced (Debits = Credits).

6. If there's a difference, use the "Opening Balance Offset" account to close the entry.

7. Alternatively, you can import balances in bulk from Excel using the "Import" button on the Manual Entries page.

For more details, refer to the full guide:
Setting Up Opening Balances for Your Core Accounts