retained earnings and accounts payable/receivable

K Cossey

Hi

I am setting up a new account in Reckon Accounts Plus 2016.  For other accounts I have set up the default Opening Balance Equity returns to Nil once I have all the balances set up correctly. This time it is out by the Accounts Receivable minus the Accounts Payable amount. When I click into the Opening Balance Equity Account I can see all my other balances but not Accounts Payable and Accounts Receivable balances. Is there some journal I am meant to do to bring these amounts into Opening Bal Equity? 
Thanks

Zappy

You need a customer or a supplier to post to receivables or payables. You need to enter the opening balances for the dwbtors and creditors. Call me if you get stuck Kevin t:0407744914

K Cossey

Thanks for helping. Yes, that's how I entered my oping balances for accounts receivable and payable. I created a customer and a supplier and set the opening balance at the 1/04 to be the amounts owing. Maybe I should have dated it the 31/03?

I'll try that. ..

Nope that didn't work. The two balances show in the chart of accounts but they don't appear anywhere i the Opening Balance Equity Ledger. Are they meant to?

I'm a bit of a newbie so I'm probably missing something basic...
Thanks again
Karen

Zappy

Of the balance date is March 31at then that is the date of the opening balance. They wont be in the opening balance equity account at all