<![CDATA[FrontAccounting forum — Opening Balances for Advances to Shareholders]]> 2019-03-28T16:50:38Z PunBB https://frontaccounting.com/punbb/viewtopic.php?id=8062 <![CDATA[Re: Opening Balances for Advances to Shareholders]]> Use a Journal Voucher. When an advance is given it will be either in cash or by bank entry or notional / abstract value like royalty / goodwill / goods. Use the appropriate contra account that was the source of funding in the first place.

]]> https://frontaccounting.com/punbb/profile.php?id=364 2019-03-28T16:50:38Z https://frontaccounting.com/punbb/viewtopic.php?pid=34555#p34555 <![CDATA[Opening Balances for Advances to Shareholders]]> Hi,

I inherited a set of management account from previous owner of this company.

I noticed that the shareholders owes the company a sum of amount that has been carried forward from 2017. I am in the midst of reconciling this entry into Front Accounting system.

My question would be, how do I create an entry for advances to shareholders, and create an opening balance for this entry to be carried forward in 2018?

Thank you.

]]> https://frontaccounting.com/punbb/profile.php?id=44540 2019-03-26T05:51:38Z https://frontaccounting.com/punbb/viewtopic.php?pid=34549#p34549