User Options - Opening Balances
Follow the process below if you have customers and suppliers with an open account balance.
- Click Setup >> User Options >> Opening Balances.
- Select whether the account is Sales or Purchase >> enter the Account Number >> Reference number >> Balance amount.
- Sales: Marks this as a customer account. This is what the customer will owe the shop.
- Purchase: Marks this as a supplier account. This is what the shop will owe the supplier.
- Account Number: The Customer ID or Supplier ID of the account. Enter this ID, or use the search options next to the field.
- Reference: This identifies the transaction. This will show as Ref in various reports.
- Balance: The dollar amount of the Opening Balance.
- Click Add.
- Confirm all information >> click Post.
- Notes:
- Once a Opening Balance is posted, it cannot be removed.
- If the information is incorrect, click the red X to delete the Opening Balance before it is posted, then create a new entry.
Click OK.
- Click OK.
- The Opening Balance information will now be included in the relevant reports.