How to update Supplier’s or Account Payable Opening Balance in Accounting System?

Created by Shirley Choong, Modified on Tue, 11 Apr 2023 at 03:10 AM by Shirley Choong

Scenario: 

 

Update your Supplier or Account Payable (AP) Opening Balance in accounting system by simply following this guide.

 

Solution 

 

Same goes with the Accounts Payable Opening Balance, Supplier Past Transactions or those outstanding or floating transactions prior the Accounting Start Month may be entered under Navigation Pane > Accounts Payable Transactional Forms shown below, as Past Bills, Past Pay Bills, Past Debit Notes and Past Credit Notes.

 


 

 

Bills as an example, need to be defined first with the correct Bills Document Date for the system to recognize it as a Past Transaction. Next, select the Supplier Account, Ref No., Supplier Inv # and Balance and complete the other details. 

 

Finally, click ‘Save’.

 

In the same way the Stock Value and AR Opening Balance are being updated, AP GL Account values will update as well in the Opening Balance Screen.

 

 

 

   NOTES

  1. Account Receivable Opening Balances can be updated using the Customer-related Transaction Forms found under Accounts Payable Module in Navigation Pane, as Past Bills, Past Pay Bills, Past Supplier Debit Notes and Past Supplier Credit Notes.
  2. System will recognize the transactions being created is an AP Opening Balance based on the transaction date.

All Supplier Past Transactions will update the values in the Opening Balance Screen

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