I am just setting up my balance sheet & income statement.

when I run these, the amounts are way off. it looks like the "opening balances" are all incorrect. in some cases, the opening balance was correct for 1/1/08 but the figures are doubled. for example, I started with prepaid taxes of $46,930 and the report shows the balance to be $93,860 (with no activity in the month of January to that account).

where is the system pulling the opening balances from and how can I modify them to reflect the correct starting amounts?

when I view the ledger accounts in Ledger, the opening balances and month end for Jan 31 are correct.

Eloise @ Agra Tech, Inc.