New bank account balance and historical balance

Hi Lynzo 

You would typically enter an opening balance for an account either via Setup>>Balances>>Account opening balances OR adding the balance to the opening balance field when creating. You would normally use this function if you have been in business before and are moving to AccountRight/creating a new file.  By adding an opening balance for your account via this method it will balance the accounts and the accounting equation by placing the residual balance in the Historical Balancing account if necessary.

If you have been using the company file for a period of time and are looking at adding a new account with a balance, I would be investigating where that balance of that account has come from. For example, if the account was a bank account where is the balance of that bank account coming from and why is not a transaction recorded in your account to reflect where that money has come from?