You must also enter an opening balance in the general ledger Trade Creditors account, and this should ideally match the total of the opening balances in the Debtors Opening Balances.
To enter creditors opening balances, on the ribbon go to Tools > Creditors OB.
Once you have opened the Creditors Opening Balances List, click Add at the bottom of the screen.
Opening Balance Entry [Type: Purchase]
You will now see the Opening Balances entry form.
1.Choose Purchase Type.
2.Select the vendor card code by either typing in the Vend# field or selecting the ellipsis [...]. The field next to this will populate with the vendor's name.
3.Use the drop-down list in the Date field to select the date of the purchase. This date will be used in the ageing of your creditor account.
4.Enter the amount of the purchase.
5.Add a comment if required.
6.Enter the Purchase #. If you do not have a purchase number, use the invoice number, as this is a required field.
7.Enter the vendor's invoice number. This is also a required field.
8.Select the date this purchase is/was due.
9.Select a discount date, if appropriate. The discount amount will be reflected from the Terms in the customer card file.
10.Click OK.
Opening Balance Entry [Type: Credit]
There are only a few differences between entering an opening balance purchase or an opening balance credit for your vendors. To add a credit opening balance entry:
1.Within the Add Opening Balance form, click the Credit radio button. The screen will change slightly, showing different fields.
2.Select the vendor card code by either typing it in the Vend# field or selecting the ellipsis [...]. The field beside this will populate with the vendor's name.
3.Use the drop-down list in the Date field to select the date of this credit.
4.Enter the amount of the credit.
Note: Jim2 always records this as a Payment By Cash.
5.Enter a comment if required.
6.Click OK.
Any changes made to these opening balances need also to be reflected in the Trade Creditors general ledger account as well, as Jim2 will not automatically perform these changes.
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Aside from Add, the option is included to edit or delete entries in the Creditors Opening Balance grid. These options should be used with caution, especially if you are trying to maintain a balance forward from your old accounts system. You cannot edit or delete a balance which has had a payment allocated to it. |
Further information: