What is the Historical Balancing account?

The Historical Balancing account is used during the setup process to track the difference between the opening balances you'll enter for your asset accounts and the opening balances you'll enter for your liability and equity accounts.

In traditional accounting terms, assets should always equal liabilities and equity; AccountEdge doesn't allow unbalanced transactions (transactions whose debit and credit amounts aren't equal) to be recorded, but this account allows you to continue to use AccountEdge if your beginning balances aren't balanced. (You won't see the Historical Balancing account in the Account Opening Balances window, but it will appear in your list of Equity accounts in all other lists of accounts in AccountEdge.)