To key in opening balance for both trade debtors and creditors.
Actual start date (the date which you start using AutoCount) is within the financial period (not exactly begin at start date).
(i) Direct Key-In From Year-To-Date Maintenance (G/L --> Year-To-Date Maintenance)
(ii) The opening balance now can be seen in Account Maintenance.
However, since the opening amount you have keyed-in kept no record of entries. Therefore knock-off list won't appear when the users wish to knock off debtors/creditors outstanding invoices.
Method 2: Key-In Opening Balance Using A/R or A/P invoices.
(i) Point on A/R or A/P module, then select:
- A/R invoice to key-in the opening balance for trade debtors
- A/P invoice for key-in the opening balance for trade creditors
(ii) Select the debtor/creditor --> change the current date to previous date and start key in the (lump-sum) opening balance for trade debtors and trade creditors.
- Trade Debtors:
- Trade Creditors:
(iii) Then update trade debtors/trade creditors opening balance from Tools --> Manage Fiscal Years
- 'Update Debtor/Creditor Opening Balance from Past A/R and A/P Transactions' update only all the A/R and A/P past invoices amount.
- 'Update Last Month Year-To-Date Balance from A/R and A/P Transactions' update only all the A/R and A/P year-to-date invoices amount.
(iv) The opening balance for both trade debtors and trade creditors now have been updated in G/L Account Maintenance.
1. Method 1
Simple and easy to apply.
Users cannot eliminate/knock-off outstanding amount directly from A/R or A/P payment as the balance key-in directly from Year-To-Date Balance contain no records of entries from A/R or A/P invoices.
2. Method 2
As opening balance (record) is stated from A/R or A/P invoices. Therefore these will be reflected from invoices knock-off list in A/R or A/P payment that users can direct eliminate/knock-off the outstanding amount.
Balance need to be updated manually by the users.