Opening Creditor Balance is a prepayment

[PinnacleBK]

Hi

A client has recently gone from being Ltd to a sole trader and as such I have set up a new QuickFile account. His energy account to carry forward is in credit but I don’t seem to be able to set an opening balance in credit and if I create a prepayment it wants to bring it in from a specific bank account.

Thanks

[QFMathew]

Hi @PinnacleBK

You may find the following thread useful which follows a similar situation:

Adding a credit to a supplier from previous accounts

I have just started using Quickfile. In the past our accounts were always on paper. Have pretty much sorted everything we need to but we’re having trouble adding suppliers with credits. For example: We pay £100 a month direct debit to Ecotricity for our energy supply. We tag the bank transaction as a prepayment and this works fine. The problem is however, we have a credit balance with them for several hundred pounds - i can’t figure out how to add this balance without taking it from somewhere e…

Of course, if you need further help, please do let us know

[PinnacleBK]

Thanks. I did a search but wasn’t able to find anything which helped. That is sneaky. I’ve done it a slightly different way but hopefully it should produce the same effect.

Debit bank with the amount of the prepayment
Credit bank capital introduced with the same amount
Both transactions dated the day before the new accounting period