Setting Up Opening Balances

Opening balances tell ForezynPlan the financial state of your business at the start of the forecast. They are the foundation of accurate Balance Sheet and cash flow projections.

Where to enter them

Go to your model, click Settings (gear icon) in the top toolbar, then select Opening Balances. You'll see a structured form grouped by balance sheet category.

What to include

Enter figures for: Cash & bank balances, Accounts Receivable, Inventory (if applicable), Fixed Assets (net book value), Accounts Payable, Short-term loans, Long-term loans, Share capital, and Retained earnings.

Getting the numbers

Use your most recent management accounts or trial balance. If you're starting mid-year, use the balance sheet as at the last month-end before your plan start date.

Checking your work

After entering opening balances, open the Balance Sheet report (Reports → Balance Sheet). The opening period column should show your entered values and the balance sheet equation (Assets = Liabilities + Equity) should balance. If it doesn't, review your entries for missing items.

Updating opening balances

You can update opening balances at any time from Settings → Opening Balances. Changes are applied immediately and all forward projections recalculate automatically.