Debtors and creditors in Trial Balance

[Iwona1]

Hi, I am new in Quick File. I have already transferred Trial Balance from Sage (TB for the middle of the year) to Quick File and also list of clients and suppliers. I do have a problem though to figure out how to post balances for specific debtors and creditors now. I have searched forum and the only one answer I found is to create opening balance in clients (and suppliers) accounts but surely if I do so it will double the amount as it already exist in Trial Balance which I transfer to QF before. Could you please advise me what is the correct way of moving to QF from another system through the year? I read Knowledge base and I did not find the answer to that there.

[QFMathew]

Hello @Iwona1

Opening balances would normally be the correct way to do it, but it would, as you say double on the on balance sheet. In this case, you would just need to adjust the trial balance to account for that.

So if you have an opening balance for a client for £100.00, then adjust your sales nominal (whichever nominal your sales invoice would use) and debtor control account. My colleague covers it in a bit more detail in the below post, but please do let me know if you have any further queries:

Getting Started

@xloganm15 yes if you import your TB and then manually setup opening balances for your clients and suppliers it will double up on the debtor and creditor control accounts. It’s always tricky setting up initially but what you would normally do is reduce your sales (4000) and debtor control (1100) balances manually to take into account any OBs you’re individually setting up for your clients. Same applies for suppliers but via the purchase code (5000-9997) and creditor control (2100). In the abov…