I’ve transferred the end of year creditors to the creditors control account via ‘import trial balance’ journals. How do I now make that visible on the appropriate supplier accounts please.
I tried entering an opening balance when setting up the supplier but that just increases the control account.
Hi Donna, you will need to reverse that journal (for suppliers) and enter the supplier opening balances only and this will feed into the creditors control account and should give you the correct balance.
Thank you for your reply. Would that not unbalance my trial balance and upset the original journal?
That said I had already entered the debtors via the clients accounts and when I had to balance the opening balances to proceed they seemed to have merged into one!
To fully understand what transactions have already been entered and how to correct in QF, can I suggest that you ask your accountant to have a quick look. They should be able to sort for you and then you can continue the day to day entries. Opening and closing journals can be tricky to get right.
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