Opening Balance Calculation

Opening Balance calculation, which is a Premium Subscription feature, calculates the previous periods balance and carries it forward.

MoBill calculates previous periods balance and shows it at the top of the list with "Opening Balance" description. The calculation adds up ALL bills and ONLY received income and creates virtual record to show the opening balance. Virtual record means actually no record created or updated in your database.

You can show/hide Opening Balance through List Options menu on the main screen.

Opening Balance is calculated by adding up ALL bills and ONLY received income from the previous periods. Therefore, any income that is not marked as received will not be included in the calculation. 

Opening Balance calculation works as follow:

Let's say Opening Balance for the current period is 100.00 USD, there are 2 bills with the amount of 30 USD and 40 USD and there is an income with the amount of 50 USD which is not marked as received. In this case, the amount is carried forward (following period's opening balance) will be calculated as (100 USD - 30 USD - 40 USD) = 30 USD as the income hasn't been received. As soon as the income is received the calculation will be (100 USD + 50 USD - 30 USD - 40 USD) = 80 USD.