CUSTOMER OPEN BALANCE PROBLEM

Vanessa_10085275
Vanessa_10085275 Member Posts: 37 Reckoner Reckoner
edited October 2024 in Accounts Hosted

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  • Linda ABC
    Linda ABC Accredited Partner Posts: 1,133 Accredited Partner Accredited Partner
    edited June 2020
    Sorry Vanessa - just posted on your other question as I read that one first... so check that one as well.. re this question... if you want the ageing correct in the new company and are prepared to enter ALL unpaid individual invoices from the old company - then you need an item setup and pointing to Opening Balance Equity.. then enter each one for the correct date.  However, if you are just bringing forward the total amount outstanding and using the Opening Balance box in the Customer setup screen - then put the date as 31st May.  But this also means your journal for the rest of the opening Balances will need to also be 31st May and you will also need to journal the P&L accounts as well from the old system - if you want full figures for the financial year. 
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