Hi,

We began with Zoho books at the end of 2010 and entered all of the opening balances as at Dec. 31, 2010.

I now need to adjust the opening balances as at Dec. 31, 2011.

 

I have read discussions on the topic of opening balances where it was mentioned to reenter all opening balances again as of the new date but after trying this all of my accounts were overstated.

 

Should I only adjust for the differences in these same account opening balances at end of fiscal year 2011?

Adjust difference between 2010 & 2011.

 

Please advise.

Thank you.