If you are out of balance in the Beginning Balances for General Ledger Accounts window, Sage 50 displays a warning message indicating that an equity account will be created (or updated) to contain the difference or out-of-balance amount.
This account will be named Beginning Balance Equity, and its type is Equity-Doesn't Close. This account does not appear in the Beginning Balances window, but it will appear in the list of accounts and on financial statements and general ledger reports.
Try to find the reason for the out-of-balance situation, and correct it if possible. (Select Cancel when Sage 50 displays the warning message.) If you are entering beginning balances from financial statements supplied by your previous accounting system or by your accountant, you most likely made an error in data entry. Make sure you didn't leave out an account or balance and that you entered all amounts correctly.
If you still cannot find the error, you can select OK at the warning message. Your books will be in balance, and you can proceed with setting up your company. You can even begin entering and posting transactions. (Remember that once you post transactions, you will need to enter prior-period adjustments rather than beginning balances. Although both are entered using the Maintain Chart of Accounts Beginning Balances button, Sage 50 will display the proper window according to whether the transaction has been posted or not.) Then later, if you find the cause of the out-of-balance situation, you can go back to the Beginning Balances or Prior Period Adjustments window and correct the situation. Once the Beginning Balance Equity account has no transactions associated with it, you can delete the account.