When starting to work with the Flexi system, it is essential to correctly set up the opening account balances. This guide will walk you through the process step by step.
Preparing the Previous Accounting Period
Creating the Period
Go to the menu Company - Change or Add Accounting Period
Create the period preceding the one in which you are beginning accounting in ABRA Flexi
Recording Transactions
In Accounting - Internal Documents, enter the closing account balances from your previous system
Link the accounts via account 395:
Assets / 395
395 / Liabilities
Expenses / 395
395 / Revenue
Recording Outstanding Documents
Cash register and bank: Enter opening balances in the form of cash or bank documents — see documentation
Invoices:
Record unpaid invoices in the Purchases and Sales modules
Fill in the date, company, variable symbol, and total amount
These documents can later be matched with the corresponding payment documents
Closing the Previous Period
After entering all transactions and documents, close the previous period via the menu Accounting - Initialize Next Accounting Period
After closing, the opening balances will automatically carry over into the new accounting period
Alternative Method for Entering Opening Balances
Opening balances can also be entered via the menu Accounting - Opening Account Balances
However, we do not recommend this approach when migrating from another system, as it breaks the continuity with the previous period when preparing the Balance Sheet and Profit and Loss Statement
Entering an Opening Balance for a Foreign Currency Account Without Creating a Previous Period
If you want to enter an account balance without creating a previous period, follow a similar procedure to the one described above:
Go to the menu Accounting - Opening Account Balances and click the New button,
Fill in the fields in the newly opened window for the relevant account, in particular Account, Cost Center, Activity, and Currency,
(Note: if you enter an account in euros, for example, remember to also create a balance in the local currency for the same account)
Click the Save and Close button.
FAQ
How do I record opening balances when migrating from another accounting system mid-year?
If you are not migrating as of January 1st, the procedure is the same, with the only difference being that you enter the account turnovers from January 1st up to the migration date in the internal documents. Follow the same steps as for a January 1st migration — i.e., enter the closing balances via account 395 and perform the period close.
2. Why is a single account shown as multiple lines in the Opening Account Balances report?
This can happen when opening balances were entered via documents in the previous period and you are using different activities, currencies, or cost centers on those documents.
3. Is it possible to correct account balances directly in the menu Accounting - Opening Account Balances?
Although editing transferred values is allowed, we do not recommend making corrections this way, as it may break continuity between periods.