Opening balances for your budget are an important part of your balance sheet and cash plan. Your opening balance should be the same as your actuals closing balance from the last day prior to the starting month of your budget plan.

Opening balances can be added by either populating your budget with data from Sage Intacct when you create your budget (see Create a budget using my Sage Intacct data), re-import balance sheet actuals, or by manually entering the data.

📝 Note that when you import actuals from Intacct, the beginning balances appearing in Intacct are re-imported to Budgeting and Planning. This means that if something changed, after re-importing actuals you see the most updated data in Budgeting and Planning.

To manually set your opening balances in Sage Intacct Budgeting and Planning:

  1. Click the Settings icon from the Inputs or Actuals view.

2. From the Settings window, click Opening Balances. A list of your assets, liabilities and equity is displayed.

3. Enter the beginning balances for each budget line and choose the currency from the dropdown.

📝 Make sure that the opening balances you add are reconciled, otherwise your data will be inconsistent. Before finalizing your budget, make sure you have all of the data updated from the previous time period.

4. Click Save and you’re done!

5. Now go to Sheets > Balance Sheet. From the Budget vs. Actuals view, you can see the actuals amounts that you defined in your budget settings. 

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