The opening balance for any given month is simply the closing balance of the previous month. To find your opening balance, you just need to know the closing balance from the previous month. You can calculate this using the previous month's opening balance, revenues and expenses.
Adding the Numbers Up
To calculate your opening balance for the current month, you can use simply add up the opening balance and income and subtract the expenses from the previous month. This will give you the closing balance for the previous month, which is the same as the opening balance for the current month. For example, if your opening balance for June was $2,000 and you had $1,000 of income and $500 of expenses, your June closing balance would be $2,500. Therefore, your July opening balance also would be $2,500.
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