<![CDATA[FrontAccounting forum — Opening Balances for Advances to Shareholders]]> https://frontaccounting.com/punbb/viewtopic.php?id=8062 Thu, 28 Mar 2019 16:50:38 +0000 PunBB <![CDATA[Re: Opening Balances for Advances to Shareholders]]> https://frontaccounting.com/punbb/viewtopic.php?pid=34555#p34555 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.

]]> Thu, 28 Mar 2019 16:50:38 +0000 https://frontaccounting.com/punbb/viewtopic.php?pid=34555#p34555 <![CDATA[Opening Balances for Advances to Shareholders]]> https://frontaccounting.com/punbb/viewtopic.php?pid=34549#p34549 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.

]]> Tue, 26 Mar 2019 05:51:38 +0000 https://frontaccounting.com/punbb/viewtopic.php?pid=34549#p34549