I am struggling to get my “simply books” programme year end into Quickfile. Unfortunately it has to be done manually. I started by multiple journey entries under the title opening balances.
The nominal accounts for “control balance on Customers” and “control balance on Suppliers” has a global figure as per the balance sheet but I don’t know how to put these figures for individual suppliers and customers so that I know who I owe money to and how much. If I put a retrospective opening balance to the suppliers and customers, then this adds to the control balance making it incorrect when I print a balance sheet. If I put individual balances on the suppliers and customers AND omit the journal entry, then the journal entries cannot be saved as they do not balance.
Hi @AP123
With outstanding balances, it would be a similar situation to the VAT one you had a few months back.
Basically, you would create the invoices (even just an “outstanding balance” invoice) before your start date on QuickFile. You would then need to remove this from your opening balance to avoid counting for it twice.
For example, if client A owes £20, and client B owes £30 as of my opening balance date of 01/12/2019, I would create an invoice for each on the 30/11/2019. Then in the opening balance journal, I would deduct a total of £50 from the Debtors Control Account, and the related sales line (e.g. “General Sales”).
Hope that helps!
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