Entering beginning balances to the customers

Entering beginning balances to the customers

If there is some beginning balances of the customers fro which we have created the records, we can also add this beginning balances in the customer’s account. Customer beginning balance consists of outstanding invoices. You can enter the numbers of the actual invoices you sent to the customer. To add the balances to the customers, click the customers/prospects option from the maintain drop down menu. The window of the customers will open. Click beginning balance from this window as shown in the figure:

Before clicking on the beginning balance button don’t forget to select the customer for which you want to enter the beginning balance. When you will click on the beginning balances button, a new window will open. In that window some information is required. That is: invoice number, date of transaction, purchase order number, amount of transaction and the A/R account. Enter all the information that is required in this window. If you have selected your company on accrual basis, then the A/R account will be written. But if you have set up your company on cash basis system then the word CASH BASIS will be written.

Fill in the information that is required by this window, the invoice number (the serial number of the original credit invoice of the transaction), Date (the date on which the credit transaction took place), Purchase Order Number if any, Amount (the monetary amount of that credit transaction), A/R Account (the account ID of your account receivable) As shown in below picture:

Customer balances:

The customer Balances tab will display the information you have given like customer ID, name, and amount at the bottom of this window will show the Opening A/R account balance..

After adding all information click on the button “save” to save your all the data regarding beginning balances of the customers.