Beginning balance is the company’s balance at the beginning of new period based on its assets, liabilities, and capital.
At Jubelio, you have to enter your Beginning Balance data to use the accounting module. But, don’t bother to input these data if you don’t use Accounting Module.
However, suppose you decide to use the Jubelio Accounting Module. In that case, you must prepare a record of all the Accounting data that you have, such as Payables, Receivables, Inventories, Cash, and Bank Balances.
The recapitulated is the data in the cut-off period or the last period before the start of using Jubelio. It could be at the end of the day after the office closes or at the beginning of the month.
Later, you will enter these data into the Jubelio Accounting system.
You can do this in two ways.
- Import all required data into Jubelio
- Manually enter them one by one into Jubelio