Beginning Balances for Vendors

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Enter a vendor's beginning balance

Enter and apply a vendor credit memo

Enter after-the-fact payment information to print vendor 1099 forms

Set up a vendor

Change a vendor ID

Review a vendor's status

Perform other accounts payable tasks

Read the vendor setup overview

How Do I...

To enter beginning balances for vendor records, select the Beginning Balances button on the History tab of the Maintain Vendors window. Vendor beginning balances consist of invoices that were outstanding as of the time you started to use Sage 50 and that you have not entered anywhere else in Sage 50.

A few important things to know:

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ClosedVendor Balances tab

Use this tab to select a particular vendor for whom you want to enter beginning balances.

ClosedPurchases From tab

The Purchases from tab includes the following fields:

ClosedHandling beginning balance credit memos

You can enter a beginning balance credit memo using the Beginning Balances for Vendors window. Choose the Purchases from tab, and then enter the invoice as a negative invoice, with negative values. How do I enter a beginning balance invoice?

However, if you enter the credit memo as a beginning balance invoice, it will not be identified as a credit memo on vendor reports and statements. If you want a beginning balance credit memo to be credited as such on reports and statements, enter it instead in the Vendor Credit Memos window. The same is true for a prepayment. If you want it identified as a credit memo on reports and statements, enter it in the Vendor Credit Memos window.
To enter a beginning balance credit memo or prepayment and have it appear as a credit memo on reports and statements, follow the instructions under Entering a Credit Memo on a Purchase without Invoice.