Allocate Opening Debtor Control Balances

Accounting
1

Hi, I have brought my Debtor and creditor control account balances in from Sage using .csv and have set up clients and suppliers manually. How do I allocate the opening supplier/client balances to the relevant individual accounts as they relate to prior year sales and purchases?
Thanks

2

Hello @gregt1539

You would have to enter or import your sales and purchase invoices posting them all to the suspense account.

You would then have to post a journal to adjust the opening balances you have entered as part of your trail balance.

For more information on this please refer to your accountant for professional advice.

Please note the QuickFile support team are not registered accountants nor bookkeepers

3

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