When transitioning from a legacy accounting system to Odoo, you must move items that are open at the time of cutover from the legacy system to Odoo. When transitioning from a legacy accounting system to Odoo, you must move items that are open at the time of cutover from the legacy system to Odoo. These open items may be any of the following: Unpaid customer invoices Unpaid vendor bills Special cases such as Outstanding customer prepayments Outstanding vendor prepayments Inventory (automatic valuation only) Account Balances (aka Initial Balances or Opening Entry) There are several methods for entering this information into Odoo. This presentation will go over a method which works robustly with all versions, costing, and valuation methods of Odoo. We will discuss the core principles of this method using clearing accounts for AP, AR, and Inventory Asset balances and then cover some of the most common use cases in more detail.