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Should I enter an opening balance for other types of accounts?

Use care entering an opening balance for equity, long-term liability, other asset, other current asset, and other current liability accounts because it's possible to create double accounting entries.

Check with your accountant if you're not sure whether to enter opening balances or create transactions to put money into these types of accounts.

See also

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PPRDQSSWS802 9142 Pro 2018 92b5fa