---
title: "Opening balances"
description: "Opening balances meaning: the balances you bring into a new system or year so the books start in the right place. See what to bring across, with an example."
url: https://1flux.ai/glossary/opening-balances
last_updated: 2026-10-11
---

[Accounting](https://1flux.ai/glossary#accounting)

# Opening balances

Opening balances meaning: the starting position of your books in a new system or a new financial year.

Glossary Updated 11 October 2026

Definition

Opening balances are the account balances a business carries into a new system or financial year, so its books start from the correct position.

## Opening balances meaning when you change system

When you move to a new accounting system, you bring in balances at a chosen [cutover date](https://1flux.ai/glossary/cutover-date) instead of re-entering years of history. That usually means an opening [trial balance](https://1flux.ai/glossary/trial-balance) for the ledger, plus the detail behind key accounts: open customer invoices, unpaid supplier bills, and stock quantities with their costs. The detail must add up to the control account balances, and the trial balance must balance.

Example: at cutover, a trader brings in USD 320,000 of stock across 4,300 lines, USD 230,000 of receivables and a balanced trial balance.

Opening stock is usually counted physically at cutover.

In 1flux

1flux imports an opening trial balance (CSV, Excel or pasted rows) and opening stock (up to 10,000 rows), validates both and posts them on your cutover date. Receivables and payables come in as control-account balances in the trial balance. Opening stock posts the inventory value itself, so the trial balance must leave inventory out or offset it. [See data import and migration](https://1flux.ai/platform/data-import-and-migration)

Related

## Keep exploring

### [Cutover date](https://1flux.ai/glossary/cutover-date)

The day you stop using the old system and start in the new one.

### [Trial balance](https://1flux.ai/glossary/trial-balance)

Every account's balance, checked so debits equal credits.

### [Data migration](https://1flux.ai/glossary/data-migration)

Moving records and balances from old systems into a new one.

### [Data import and migration](https://1flux.ai/platform/data-import-and-migration)

Import companies, contacts, items, opening stock and an opening trial balance, validated before anything is saved.

Last updated 11 October 2026