The opening balances of the general ledger and the sub-ledger are uploaded together. The sub-ledger (vendors and customers) posting profiles should be assigned to the opening balance. This is important to ensure posting for vendors and customers whether to post to summary account or advance account.
The opening balance for open invoices could be posted in separate lines in the same entry using the invoice number, due dates, and discounts, if any. In addition to that, sub-ledger posting profiles (vendor, and customers) who have balances in a foreign currency should be considered along with the exchange rate.
If the opening balance is in a period that will be included in the next sales tax settlement, and the customer wants to use the tax settlement process, tax information should be assigned to opening balance transactions.
The bank's opening balance should be reconciled afterward to be considered in the next reconciliation.