How to import a client’s opening balances

This article explains how to import a client’s opening balances into FreeAgent as part of the onboarding process.

Please note that you won't be able to import opening balances into a client's account if they have an unincorporated landlord account.

Before you get started

You can download our opening balances template and then fill in the required columns for each opening balance that you'd like to import for your client. Alternatively, you can create your own .CSV file to import into your client’s account.

You can also download a chart of accounts to view a list of all the available categories in FreeAgent and create custom categories if you need to.

Please note that importing a set of opening balances will overwrite any existing opening balances in your client’s account.

1. Switch to the client’s account

Log in to your Practice Dashboard and select the ‘My Clients’ tab in the ‘Clients’ area. Select ‘Switch to’ beside the relevant client to access their account.

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2. Navigate to the client’s ‘Opening Balances’

From the client’s account, navigate to the ‘Accounting’ tab at top of the screen and select ‘Journal Entries’ from the drop-down menu.

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From the 'Journal Entries' screen, choose 'Opening Balances' from the drop-down menu.

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3. Import the client’s opening balances

Select ‘Import Opening Balances’.

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Choose 'Select a file' and select the file you wish to upload from your computer.

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Once you’ve selected the relevant file, select ‘Upload and review’.

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4. Review the opening balances

FreeAgent will attempt to match the imported categories on the .CSV file with the relevant categories in FreeAgent. Please note that the names of the imported categories will need to match the names of the available categories in FreeAgent for them to be guessed. You can download a chart of accounts to view a list of all the available categories in FreeAgent.

You can change the ‘FreeAgent Category’ for each imported category by selecting the arrow next to the entry and choosing the appropriate option from the drop-down menu.

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To add additional opening balances, select ‘Add Another’ and enter the relevant information.

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To remove any of the opening balances, select the cross to the right of the relevant imported categories.

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5. Import the opening balances into the client’s account

Select ‘Import Opening Balances’ to complete the process. Alternatively, you can select ‘Cancel without importing’ to abandon the process without importing the opening balances.

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If you need to edit your client’s opening balances in FreeAgent, you can do so by switching to their account and following the instructions in this article.

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