I have purchased Solar Accs and will go live from the 1st August, the start of my new year. I am still a bit unclear as to how to record opening balances for customers and suppliers. I will probably have about 20 customers each with about 10 or so outstanding invoices. Do I have to create one invoice for each customers outstanding balance dated before start of new year or can I create all outstanding customer invoices as this would make sorting out account payments a lot easier.
Many thanks...
Hi Bob,
You can create multiple invoices for each customer/supplier to represent the outstanding balance. Set the Date to be before 1st August and the Account on each line to 'Retained Earnings'.
Regards,
