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Opening Account Receivable
When shifting to EMP for the first time from your previous accounting system, this function is needed to transfer the opening balance (debit / credit) to EMP. This is very different from Upload Customer List because instead of transferring customer details such as company name, address and contact number, this function transfers the amount owed to / owed by the customer. The opening balances are best brought forward immediately after the EMP is adopted. There are two method to upload invoice:-
Method 1: Upload excel file
Method 2: Add manually
Method 1: Upload excel file
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GO Trading > Sale > Upload invoice
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Remove Journal Transaction before financial year (Invoice journal created above)
Accounting > Maintenance > Configuration > Set Opening Balance : Select & Set company > click "Yes, remove the transaction below"
- Report checking:
Customer > Query/Report > Historical AR Balance
Customer > Tasks > AR
Trading > Sales > Invoice Listing
Method 2: add manually
- Customer > Maintenance > Opening Balance
- Select a branch and click ‘Change Branch’.
- Search a customer name under ‘Billing Account’ by clicking ‘Select Customer’.
Enter :
- old reference number from the previous system (if necessary)
- remarks, date – date before EMP is adopted
- salesman
- outstanding amount balance – The amount outstanding can be obtained from your old system’s Outstanding Debtors for individual customers.
- Then, click ‘Add Invoice’.
- Click ‘Reset’ or ‘Reset Form’ if needed.
- A ‘List of Outstanding Documents to be Settled’ will show the opening balance at the bottom.
- Click ‘Remove’ to delete the transaction.
- Finally, click ‘Confirm and Save’.
- For negative amount (sales return / refund), remember to use a credit memo instead to create a debit note for the customer.
- After importing the customer records, you can resume to this function as the customer records will already exist in the system, allowing user to ‘Select Customer’.
- Opening balances can only be entered one by one for each customer.
- Please read Opening Stock / AR / AP.