Taking on supplier balances

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Obtain the required balances from your supplier age analysis report in your previous system.

 

To enter the opening balances go to Supplier > Supplier Journal and click on the New Journal Batch button.

When entering the opening balances, the General Ledger account you must select is the Controls | Supplier Opening Balances account or whatever General Ledger account your accountant may have created for this purpose.

 

If you need to enter aged balances, obtain the balances for each aging period, ensure that each is entered separately and that your date selected will then reflect the age of that balance per customer. (see image below).

 

The preferred way would be to import your suppliers and opening balances from a CSV file. If your data is in an Excel spreadsheet, save the Excel spreadsheet as a CSV file.

Go to Supplier > Supplier Import From CSV and fill in the required fields.

 

To make sure that you have processed the take on correctly, print the supplier age analysis and compare it with the one you used to take on the balances.