Hi,
I've just started a new company file and am in the process of inputing historical balances. I've entered pre-conversion sales but some of them have part payments, the total of which I've entered into 'Customer Deposits' in 'Account Opening Balances.' However, I'm not sure how to allocate the deposits, especially as some of the payments are carry-overs from larger payments that closed off a handfull of other invoices.
Thanks.
Hi NewlandPC
Generally speaking, for the pre-conversion invoices and purchases you would be entering the outstanding amounts of those. This would be to match the opening balance of the linked receivable and payable accounts. You aren't able to enter conversion deposits on transactions.
In theory, you could enter the total of those invoices using the Setup>>Balances functionality. You'll then be needing to enter the Sales>>Receive Payments (and Purchases>>Pay Bills) to enter those partial payment transactions. These transactions would need to have a date of on or after the first date of the conversion month. You'll also then need to account for these payments in the respected bank account so you'll need to ensure that the opening balance of the bank account would be excluding these transactions as recording them would impact that balance.
