Articles on: Reconcilliation

How to Enter a Starting Balance for Physical Accounts

When setting up a new physical account in COUNT (like a bank or credit card), it’s important to record its starting balance. This ensures your books reflect the true value of your assets from day one.

COUNT allows starting balances to be entered manually as income transactions tied to equity—giving you a clean, auditable record.

Steps to Enter a Starting Balance

Go to the Transactions Page

From the sidebar, click Accounting → Transactions.

**Create a New Income Transaction more detailed walkthrough here

Click the + New button and select Incoming.

Label It "Starting Balance"

In the Description field, type: Starting balance.

Enter the Balance Details

Fill in the following:

Date – the date your account had that balance.
Account – choose the physical account you're setting up (e.g. checking, savings).
Amount – the opening balance for that account.

Choose an Equity Category

In the Category field, select an appropriate equity account, such as Owner's Equity

Click Save

Your starting balance will now appear in the Transactions list.

Pro-tip: We only support reconciliation for physical accounts (e.g. checking, savings, cash). Starting balances are not required for non-reconcilable or virtual accounts like clearing or suspense accounts.

Why It Matters

Setting a starting balance helps COUNT match your real-world account activity from the very beginning, making your financial records accurate and reconciliation smoother.

Updated on: 19/06/2025

Was this article helpful?

Thank you!