Billy- If you are adding a new account to your existing company, you would add the account and enter a journal entry for the balance. You cannot do a one sided entry so you would need to work with your accountant on what you would want the offset account for the journal entry to be.
Thanks, Coleen

I disagree. There is no "journal entry." It is setting up beginning balances, just as if buying the software and doing a manual conversion from a prior system.

Unless you are in a position to post the entire beginning trial balance all at once, there has to be one-sided entries. Once ALL accounts are added with beginning balances, THEN you have a balanced "entry."

Billy - for every transaction you need both a debit and a credit to stay balanced. It gets confusing more when it is not at the beginning, like you are used to, but the concept is still the same. You still need to stay balanced. Maybe think of it this way, if you were starting a new company and you had to enter in beginning balances....and all you had was the new cash account, what other account balances would you put in to balance the cash entry?
Thanks,
Coleen