Enter Customer Beginning Balances
Once you save a customer record, you can enter beginning balances for the customer.
Warning! When you are entering your customer's beginning balances, do not enter any invoices that you have already entered in the Sales/Invoicing window.
- Open the Customer Beginning Balances window.
How do I do that? - Select a customer on the Customer Balances tab.
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On the Invoices for tab,
enter the invoice number, invoice date, purchase
order number (if applicable), amount, and the appropriate A/R account
(if necessary) for each unpaid invoice for this customer that needs to
be recorded when starting to use Sage 50.
Notes: If you are using accrual-based accounting, you must select an A/R account. If you are set up as cash basis, the A/R Account field will be disabled.
These transactions can be adjusted at any time unless a receipt has been applied to the invoice. If a receipt has been made, the invoice will have a gray background. To edit it, you must delete the receipt first.
- (Optional) If you need to enter more than one line on this tab, press ENTER and continue adding invoices.
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To enter beginning balances for additional customers, select the Customer Balances tab. Double-click the customer name, or highlight the name and select the Invoices for tab.
Note: When you are setting up your company, it is important to remember that the total of the beginning balances entered here needs to equal the total amount you entered in your G/L for all accounts receivable account types.
- Select the Save button when you have finished entered the beginning balances. You'll return to the Maintain Customers/Prospects window which you can close.