Opening Journal Entry Question

@JK Bookkeeping 

I have some experience as a treasurer for a couple of HOAs but am by no means an expert.  A few questions: 

• Did the HOA give you a balance for the reserve equity account (replacement reserve balance)?  Is it the same balance as the reserve fund savings accounts? 
• Is the checking account balance just operating assets or is it a combination of operating assets and amounts to contribute to the replacement reserves?  
• How about YTD income/(loss)?  
• Any prepaids or accruals?

Since there's no A/R or A/P and no retained earnings, I think if you have that information, you can set up the opening balances. 

Thank you for your reply.  Here are my answers.  I was thinking it would be nice to add in the Jan & Feb. expenses so they can see the budget  with those included as well as the first two months assessment income.

Did the HOA give you a balance for the reserve equity account (replacement reserve balance)?  Is it the same balance as the reserve fund savings accounts?    I think it is just what is in the savings accounts.

Is the checking account balance just operating assets or is it a combination of operating assets and amounts to contribute to the replacement reserves?  All deposits go into it and then monthly transfers are made to the reserves. The current balance is after the Feb. transfer.

How about YTD income/(loss)? They supplied income and expense totals for the year.

Any prepaids or accruals?  Yes there are a few owner prepaids.

I think what is getting in the way is me is trying to include all of the January and February expenses and assessment income so they have it in the new system.  If I just start with Feb 28th it balances out with the checking account balance equalling the retained earning as of March 1st.  It would be nice to have it all in there though.  

This is perfect and will work with what I have, thank you!  It seemed like it should be pretty straight forward.  Now I can feel confident I am not missing anything (or adding anything in error).  I appreciate your help.