It's much more fun, when you can discuss your problems with others...
You are not logged in. Please login or register.
FrontAccounting forum → Banking and General Ledger → opening balance
Dear contributors
Hello
I am having a simple accounting question. 
How do I enter opening balance for supplier and customers?
For example customer X has debt to company or VS Company has to its supplier. In this case how should we enter first opening balance to them?
One Journal voucher addressing all opening balances would contra to a nett of zero currency value.
Dear apmuthu
I didn't understand what you mean! can you explain more in detail?!
Dear apmuthu
I didn't understand what you mean! can you explain more in detail?!
You can just manually enter your opening balance sheet to FA via journal entry. But, I think for on going transaction, it would be more complicated. For example if you still have some DO which not yet be invoiced or some unpaid invoice. Although the procedure seems complicated, you can follow FA Wiki guide : here
Dear barbarian;
Thank for your prompt reply.
I read Opening Balance thoroughly in WIKI but the issues that I couldn't understand is that, how to handle my need via this. Let me give you an example:
Consider I have a customer/supplier X and it is my first time to work with FA. I defined every thing possible in FA such as banks accounts, fiscal years, customers, suppliers and etc... Now, for some defined customers/suppliers I have some previous payments that not settled yet and I just wanted to enter an opening balance sheet for that.
FA has a very nice option, Payments and Deposit. Via this part I can directly point on customer and supplier but in FA journal entry I can't point on specific customer/supplier.
The question is how to enter an opening balance sheet in by which whenever I check out customer/supplier transaction it show's me all invoice plus opening balance.
I do hope could clearly explain what I want
Dear barbarian;
Thank for your prompt reply.I read Opening Balance thoroughly in WIKI but the issues that I couldn't understand is that, how to handle my need via this. Let me give you an example:
Consider I have a customer/supplier X and it is my first time to work with FA. I defined every thing possible in FA such as banks accounts, fiscal years, customers, suppliers and etc... Now, for some defined customers/suppliers I have some previous payments that not settled yet and I just wanted to enter an opening balance sheet for that.
FA has a very nice option, Payments and Deposit. Via this part I can directly point on customer and supplier but in FA journal entry I can't point on specific customer/supplier.
The question is how to enter an opening balance sheet in by which whenever I check out customer/supplier transaction it show's me all invoice plus opening balance.I do hope could clearly explain what I want
Your need is the complicated one. I will have the same problem. I think the Wiki has explained it. Read below : If you have AR/AP records (not settled yet), this is more complicated. It's not a beautiful way to do this, but I think this is easier than you enter manually to database via DBMS.
FrontAccounting forum → Banking and General Ledger → opening balance
Powered by PunBB, supported by Informer Technologies, Inc.
Currently installed 4 official extensions. Copyright © 2003–2009 PunBB.