Balance
See what the business owns and owes, account by account, and set opening balances
Accounting → Balance shows your balance-sheet accounts: what the business owns (cash, banks, equipment) and what it owes (bills, loans, advances), with the current balance of each.
What It Shows
| Area | What it answers |
|---|---|
| Current Assets | Cash, banks and anything you will turn into cash soon |
| Current Liabilities | What you owe in the short term, such as open bills |
| Long-Term Assets | Equipment, vehicles and other investments, with the investment in the selected period |
| Long-Term Liabilities | Loans and other long-term debts |
| Account tree | Every balance account with its current balance. Click a category to see its accounts, or an account to see its activity. |
Inactive accounts with no balance are hidden from the category details.
Where Balances Come From
Each balance moves with your daily work: payments, payouts, transfers and deposits update the register accounts, and bills update Accounts Payable (Bills). You don't post entries by hand.
The one thing SettleWise cannot know is what each account held before you started using it. That is the opening balance.
Set an Opening Balance
- On Balance, click the account to open its detail panel.
- Click Set opening balance.
- Enter the Opening balance in USD. Use a negative value for an opposite balance.
- Choose the As-of date: the day just before your SettleWise activity begins.
- Click Save opening balance.
The account's current balance is recalculated from that starting point. Use Edit opening balance to correct it or Remove to take it out.
Set opening balances once, when you start using Accounting. Afterwards, let payments, payouts and deposits move the balances.
QuickBooks
If QuickBooks is connected, Sync QuickBooks brings in its accounts and movements so both systems start from the same balances. SettleWise remains the source of truth for the work recorded in it.