Enter Opening Balances at Cutover

Last updated: 2026-07-09 Summary:

Opening balances post as one balanced journal entry dated your as-of (cutover) date.
Don’t enter AR and AP totals in OpeningBalances and import the open invoices/bills — that double-counts.
Open invoices and bills are matched to their party by name within the same upload.
Migrated open items settle over time on the Migrated positions page as you collect and pay them.

This page covers the balance-bearing sheets of the migration template — OpeningBalances, OpenInvoices, and OpenBills — and the decisions that keep your cutover clean. Fill the master-data sheets first (see Import your chart of accounts and contacts).

1. Set the as-of (cutover) date

If your file includes opening balances, the Review step shows an Opening balances as of date picker. This is the date the opening journal entry posts on — normally the last day of your old system, or the day before you go live in eKapital.

The as-of date must fall in an open accounting period. If it lands in a closed period, the opening entry is not posted and the wizard records a warning; re-open the period (or pick an open date) and re-import. See Close an accounting period.

2. Enter opening balances so they balance

Each OpeningBalances row carries an account (by AccountNumber) and its balance in either the Debit or Credit column — never both. Across the whole sheet, debits must equal credits. eKapital posts them as a single balanced opening journal entry; any residual needed to balance lands in Opening Balance Equity. If the sheet doesn’t balance, the opening entry is rejected (your master data still imports).

3. Avoid the AR/AP double-count

This is the most common cutover mistake. Your open invoices and bills already carry their full gross into the Accounts Receivable and Accounts Payable control accounts when you import them on the OpenInvoices/OpenBills sheets.

So do not also put your AR and AP totals in OpeningBalances. Pick one path per control account:

Import the individual open documents (recommended — they show up in aging), or
Enter a lump AR/AP figure in OpeningBalances (only if you don’t need per-customer/-vendor detail).

Doing both counts the same receivable or payable twice.

4. Match open items to their party — in the same file

Each open invoice is matched to its customer, and each open bill to its vendor, by name within the same upload. The match is exact (case-insensitive, trimmed). A name that matches zero rows — or more than one — is left unresolved, and the Review step blocks Continue until every open item resolves.

To make matching work:

Keep the customers and vendors in the same file as the open invoices and bills.
Make each CustomerName / VendorName match the party’s Name exactly.
Avoid duplicate party names — two customers named the same can’t be told apart.

An unresolved open item won’t appear in per-customer or per-vendor aging until its party is matched.

5. Re-enter 2307 / creditable-withholding detail by hand

An opening balance on a creditable-withholding-tax account (EWT Receivable or Creditable Withholding VAT) carries into the opening entry as a total — but the migration cannot reconstruct the per-certificate BIR Form 2307 breakdown behind it. eKapital flags this with a warning. Re-enter the supporting 2307 certificates manually so your creditable-withholding detail is complete for filing. See Pay a vendor and issue the 2307 and Withholding tax & ATC codes.

6. Settle migrated positions over time

Each migrated open invoice and bill becomes a tracked migrated position. As you collect a receivable or pay a payable in real life, open the Migrated positions page (under Migration), select the settled items, and settle them. Settling drops them from aging and retires their parked VAT to equity. Settlement is a manual action you take as items are paid — there is no auto-settle today.

Where people get tripped up

AR/AP entered twice. If your receivables or payables look doubled after import, you likely put totals in OpeningBalances and imported the open documents. Undo the batch, remove one source, and re-import.
Open item won’t let you continue. That means its party didn’t match exactly one customer/vendor in the file — check for a typo, a missing party row, or a duplicate name.
Closed cutover period. An as-of or document date in a closed period is skipped with a warning, not an error. Re-open the period and re-import those rows.
Expecting VAT to re-file. Migrated VAT was already declared in your old system; eKapital deliberately keeps it out of your eKapital VAT returns. See How migrated balances are represented.