Opening Credit Balance to Supplier

Accounting
1

Hi I Have to put credit opening balances on 2 supplier accounts but the opening balance feature doesn’t allow for a credit figure. I am unable to do through bank as this will put bank out.

Can quick file not add this as which ever way I try it does not allow this.

2

Hello @rcsmithandpartners

The below is how I would reccomend processing it

  • Record a money out transaction on 01/04/2024 (his opening bank balance date).
  • Tag as payment on account to the supplier.
  • Reduce opening bank balance by the same amount as to not double account the value.
3

Thanks will do that.

John

Yahoo Mail: Search, organise, conquer

4

This topic was automatically closed 14 days after the last reply. New replies are no longer allowed.