Opening Balances - Getting Started
Question asked by Julie Woodhouse 3 years ago
I'm trying to set up the opening balances as per the Accountants Trial Balance, the only way I can see to do this is by way of a journal. However, I need to enter Trade Debtors against each Debtor not just in the nominal.
I do not have under the 'Settings' tab and option for 'Getting Started'.
If I enter the individual invoices, what date do I enter and what do I post the transaction to?
If they are entered as invoices, then this will create the correct Trade debtors balance but when I come to post the remaining Trial Balance entries, they wont balance by this amount. I'm used to entering opening balances on SAGE where there is an opening balance tab against the Customer and the entry is posted to Suspense account and then when posting the TB, the trade debtors figure on the TB is posted to Suspense to clear that account. I cant find a suspense account or a tab against the customer for opening balances.