When you start using operations accounting (OPEX) in VRTrust, you can manually set an opening balance for each active operating account. These balances are dated one day before your GL Start Date, so your reports reflect the correct starting position from day one.
What is the opening trial balance?
The opening trial balance is a one-time entry that records the balance of each operating account as of the day before your GL Start Date (referred to as the Opening Date). For example, if your GL Start Date is April 1, 2026, opening balances are dated March 31, 2026.
Once saved, VRTrust creates journal entries in the operating ledger for each account you've given a non-zero balance. These entries flow automatically into your Trial Balance, Balance Sheet, Profit & Loss, and General Ledger reports — no additional setup is required.
A read-only Opening Balance assignment row is also shown at the bottom of the screen. This row is calculated automatically by the system as the negative sum of all the account balances you enter, keeping the entry in balance. You cannot edit this row directly.
What you need before you start
A GL Start Date must be set on your account.
The opening period must not be locked (books closed) or attached to an owner statement. If either condition applies, the form will be read-only and saving will be disabled.
All balances are entered in your account's default currency — there is no currency selector on this screen.
How to enter your opening balances
Navigate to the Opening Balances screen in VRTrust (found under Settings or directly from the Onboarding Guide).
You will see a table listing all active posting accounts grouped by classification (Asset, Liability, Revenue, Expense).
The Opening Date (your GL Start Date minus one day) is displayed on the screen for reference.
For each account, enter the signed balance as of the Opening Date:
Enter a positive value for a debit balance.
Enter a negative value for a credit balance.
Leave an account at zero if it had no balance at that date.
Review the read-only Opening Balance assignment row at the bottom, which updates automatically to reflect the offsetting amount.
Click Save to apply your entries.
Credit card accounts exception: Operating credit cards are set up as a liability (money you owe).
When entering an opening balance for a credit card account, enter a normal positive number for the amount owed — do not flip the sign the way you would for other liability accounts. VRTrust handles the accounting direction for you automatically.
What happens when you save
Saving replaces any previously saved opening trial balance entries for the operating ledger. VRTrust will:
Store the balance you entered on each account.
Create (or replace) balanced journal entries dated on the Opening Date in the operating ledger.
Omit journal entry lines for any account with a zero balance — these accounts still appear in the table but do not generate a posting.
These journal entries will appear wherever operating ledger activity is shown, including the General Ledger detail view, Trial Balance, Balance Sheet, and Profit & Loss reports, labeled as Opening Trial Balance.
Important notes and considerations
Full replacement on save: Every save is a complete replacement. Any account you leave blank or set to zero will be cleared. Make sure you include all accounts with non-zero balances each time you save.
Credit cards use a different sign convention than other liabilities: see the callout above. Entering a negative number for a credit card balance will misstate the account.
Locked periods: If the Opening Date falls within a closed books period, or if any of the existing opening entries are attached to an owner statement, the form will be locked and saving will be disabled. The screen will indicate why it is locked.
Archived and non-posting accounts: Only active posting accounts appear in the table. Archived accounts and reference/system-only accounts are not included.
Trust ledger is unaffected: The operating opening trial balance does not affect trust ledger balances, owner statement attachments, listing opening balances, or reservation opening-balance logic.
(Trust-ledger opening balances — Listing Balances, Taxes Payable, Advance Deposits, Trust Bank, A/R/Deferred Revenue, and Trust A/P — are documented separately and follow their own workflow.)
No draft state: There is no auto-saved draft. The form reflects the last saved values each time you open it.
External accounting integrations and CSV import: Currently, only manual entry through the UI is supported. CSV import and external accounting system integrations (such as QuickBooks) are planned for a future release.
Updating your opening balances later
You can return to the Opening Balances screen and update your entries at any time, as long as the opening period has not been locked by books-close rules or owner statement attachment. Simply re-enter all account balances (including any you previously saved) and save again to replace the prior entries.
If you have questions or need help troubleshooting, reach out to our support team.