Cr. Accounts Receivables

Posted By MargoB over 9 years ago

I got a new company file with Opening Balance for Accounts Receivables. I've received a payment for one of the outstanding invoices that are included in the opening balance of accounts receivable. Since no prior invoices have been recorded but only OB, I cannot apply the payment to the invoice. I tried reducing Accounts Receivables through general journal entry by Dr. Chequing Account and Cr. Accounts Receivable unfortunately general journal doesn't provide me with the choice for Accounts Receivable. How to proceed?

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0 Smith and Co over 9 years ago

If you were to click on Maintenance in main window and then click on Check Data Integrity you will probably see a data inconsistency error.

You need to also enter the individual outstanding invoices thru history mode to each customer so that the total of all these invoices is the same total as the AR opening balance. Once that is done then you will be able to go into AR receipt module and enter the payment received.
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0 MargoB over 9 years ago in reply to Smith and Co

I clicked on Check Data Integrity and it says data is OK.

Then I went to the account & clicked on Related Historical Accounts but it doesn't allow me to record any historic transactions and it says this type of info is created when you start a new fiscal year.
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0 Smith and Co over 9 years ago in reply to MargoB

What is the entry you made for OB in Sage/Simply? You debit which account and credited which account?
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0 Smith and Co over 9 years ago in reply to MargoB

What is the entry you made for OB in Sage/Simply? You debit which account and credited which account?
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