Enter or Import Beginning Balances

The final step before going live with GoldFinch is entering or importing the beginning balances. This includes sales orders, purchase orders, work orders, and beginning inventory. If you are also implementing the GoldFinch Accounting module, additional steps will be required for AR, AP, bank reconciliation items, and trial balances.

Manual Entry Recommendations

For open transactions such as:

• Sales Orders

• Purchase Orders

• Work Orders

We recommend entering these manually to ensure accurate starting data.

Import Beginning Inventory

Use the Import Inventory feature to upload your beginning inventory balances.

If Implementing the GoldFinch Accounting Module:

• Beginning Accounts Receivable (AR): Use the Import Beginning Accounts Receivable.

• Beginning Accounts Payable (AP): Use the Import Beginning Accounts Payable.

• Outstanding Bank Reconciliation Items (checks or deposits): Enter manually or Importing Outstanding Checks and Deposit in Transit

  • Ensuring that the Posting Date is 1 day before your go-live date. For example, if you plan to go live on 1/1/26, use 12/31/25 as the posting date for open items.

• Historical Trial Balances: Use the Import General Journals to import historical trial balances. You can import Historical Trial Balances after go-live.

  • We recommend importing two full years of monthly General Ledger (GL) changes to allow for accurate comparisons.

  • For example, if going live on 1/1/26, import the beginning trial balance as of 12/31/23, and then import monthly GL changes from January 2024 to December 2025.

Reconciliation Steps

An Offset GL Account is used when posting beginning balances for Accounts Receivable (AR), Accounts Payable (AP), and outstanding bank reconciliation items.

After all beginning balances and trial balances for the remaining GL accounts are posted, the Offset GL Account balance must be zero. This confirms that all opening entries have been fully and correctly reconciled.

Final Pre-Go-Live Check

Before going live, ensure that the GL balances for AR, AP, and Inventory match with their respective sub-ledgers by running the following reports:

• Inventory Valuation Report

• AR Aging Report

• AP Aging Report

Article Enter-or-Import-Beginning-Balances  ·  Last updated December 18, 2025 · GoldFinch ERP Help Center