Entering income and expense values

How to enter inicial income and expense value into erpnext?

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This can be done by creating journal entries of type “opening entry” and in the first row provide the account you want to update credit/debit and in the second row give “temporary opening” account with equal debit/credit to satisfy the double line accounting model. Once you do this for all your accounts the temporary account should equal to zero and the opening balances for all accounts would be updated.

You can learn more here.

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Hello Void_Moon,

Thank you for your explanatory answer, but I couldn’t fully describe the issue I’m currently experiencing. Let me try to explain.

I made the opening entries of the accounts related to Assets, Liabilities and Equity with journal entries, but I could not make the opening entries of the accounts related to income and expenses.

I got various errors.

Journal Entry ACC-JV-2023-00009: ‘Profit and Loss’ type account 710.01 - DİREKT İLKMADDE VE MALZEME GİDERLERİ - MM not allowed in Opening Entry

Incorrect number of General Ledger Entries found. You might have selected a wrong Account in the transaction.

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@Uzay Hi!

Here is a technical accounting question? :grinning:

Does the Income and Expense account have opening balances?

@aa_prashant Hi :slight_smile:

The company has Income Accounts and Expense Accounts, of course.

Domestic Sales Account, Service Revenue Account, General Administrative Expenses Account, etc. - these accounts are income and expense accounts.

These accounts have balances, and I want to transfer these balances to the company’s ledger in ERPNext by entering them. I can enter the balances of other account(Asset, Liabilities and Equity) types with the Opening Entry, but I am unable to enter the balances of Income and Expense Accounts.