Overview
Only users with Administrator or Account user role can have access to this feature.
Ligalis Accounting does not import any granular accounting data from other accounting software. We are using Trial Balance to set up new opening balance for any law firm that migrates its accounting record to ours.
If you are starting fresh, and no prior record, you dont need to setup opening balance here.
Conversion Date
Users need to set the conversion date so that the system could set the opening balance date. For example, if you decide to use Ligalis Accounting at the beginning of July, then you set the Conversion Date at end of June. This will set the closing balance of June to become the opening balance in July.
Conversion Balance
Once the conversion date is setup, then users can refer to the Conversion Balance which list all your accounts. Please let your accountant to set up this because it requires accounting knowledge to do this correctly. Follow the instruction available next to the conversion balance.