Struggling to get started

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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