Negative opening balance for client

[Phoenix126]

I’m transitioning from Clearbooks to Quickfile and am having a little trouble creating a client who has a credit balance.
I’m manually entering data as it’s only a couple of months of figures and I don’t have spreadsheet exports from Clearbooks and no longer have access to the account.
There doesn’t seem to be any way to enter a negative opening balance for a client.
Can someone help?

[QFSteve]

Hello @Phoenix126

I found the below thread in the forum which may help

Opening balance for a sales client in credit

Hi @Donna_Ladd To add this opening balance to the client you would have to add the pre-payment as a transfer from the bank. You can date this transaction as the same as your opening balances but you may need to adjust the bank opening balance to allow for this transaction. Unfortunately you can only add a positive figure (invoice) as an opening balance

[Phoenix126]

Mine is actually an outstanding sales credit note, not a prepayment.

[QFSteve]

Hello @Phoenix126

A prepayment is just a credit to the customers account which can be allocated to a later invoice or refunded.

[Phoenix126]

OK, thanks.
On a related note, we also have a balance outstanding with HMRC for VAT owed to us. Do I need to set up HMRC as a customer with this as their opening balance?

[QFSteve]

Hello @Phoenix126

The vat liability account (2202) is where this would have been entered as an opening balance.

Usually this would be entered as part of your opening trial balance from your previous software

[Phoenix126]

I’m still in the process of doing that. Thanks.