Hi - I have imported customers from Sage but cannot enter the opening balance as this option is not available when I view the client details. How can I do this please? I can see that the option is available when creating a new client from scratch.
When you input an opening balance at the point a new client record is created, all Quick File does here is generate an invoice matching the opening balance supplied with the name “[Client name] Opening balance”. You can actually do the same even after a client has been created, just generate a new invoice matching the debtor amount and any future payment relating to older invoices can be attributed to this initial debtor invoice.
An alternative of course is to just enter any outstanding invoices in full for the client. The aggregated method is just a bit quicker if there many clients with multiple unpaid invoices.
Hi Glen - if an invoice is being created when an opening balance is entered will this not be doubling up the sale as the Trial Balance will already have the figure included in sales and output vat?
Yes it would be something you’d need to be mindful of and adjust the TB accordingly. If you’ve already committed the TB you can use a journal to adjust out any client and supplier balances from the debtor and creditor control accounts.
Ok - that fine - thanks for the quick response
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