Enter customer opening balances

Find this screen

Open: Settings > Opening Balances > Customers > Opening Balance Sales Invoices

Open: Settings > Opening Balances > Customers > Opening Balance Sales Credit Notes

How to

Enter an opening balance for a customer

Choose Opening Balance Invoice or Opening Balance Credit note.

Select the customer using the Code, Short name or Postcode drop-down lists.
Enter the Invoice Details or Credit Note Details:
1. Invoice or Credit note date - the original date of the invoice or credit note.
2. Due date - when the invoice or credit note is due to be paid.
3. References - the invoice or credit note number and any additional reference you want to assign to the invoice or credit note.
4. Goods Value - Enter the unpaid (unallocated) amount.
If any early settlement discounts were included with the original invoice or credit note, enter the details here.

This is to make sure that it can be allocated in future.
When you have finished:
1. Click Save to save and clear all details.
2. Click Save and Retain Code to save and enter another invoice or credit note for the same customer.

Enter opening balances as a batch

This lets you enter opening balance invoices and credits notes in groups rather than one at time. This lets you can check your transactions and make changes before posting them.

You create a header where you specify the type of transaction, opening balance invoice or opening balance credit note and the number of transactions in the batch. You then enter the details of each transaction. When you are ready, you commit the batch which posts all the transactions.

Open: Customers > Enter transactions > Batched Transactions.

Click New in the Batch headers section.
Enter the details of the batch:
1. Batch Title - enter a description of the batch.
2. Batch type - select Opening balance invoice or Opening balance credit note.
3. Number of entries - enter the expected number of transactions.
4. Batch total - enter the expected total value of the transactions.
Click OK to save.
In the batch transactions section, click Add.
Enter and Save the transaction details until the total value and total number of transactions match the batch header.
When you're ready to post the transactions
1. Select the completed batch from the list of batch headers.
2. Click Commit.

Useful info

About opening balances

Opening balances represent the financial position of your organisation on the day you start entering live transactions into Sage 200. Whatever date you choose you are likely to have opening balances, whether your organisation is just starting up or changing from another accounting system.

If your customer has an outstanding balance with you, you'll need to enter an opening balance invoice or credit note depending on whether they have a debit or credit balance.

Opening balances are not posted to the nominal accounts or the VAT return. This is because the balance of your Debtors Control, Sales and VAT nominal accounts will be included in your opening balance journal.

You can enter an opening balance for each invoice or credit note that remains unpaid (unallocated) from your previous accounting system, or as a single transaction representing the total balance. Entering as separate invoices or credit notes makes it easier to allocate them later.

Fix it

What if I made an error?

You cannot directly amend opening balances. If you make a mistake when entering an opening balance you must enter another opening balance transaction to reverse the original transaction.

Remember:

An opening balance credit note reverses an opening balance invoice.
An opening balance invoice reverses an opening balance credit note.

What happens when I

Save the opening balance

The customer's account balance is updated.
A transaction with a type of OP shows in the Customer Transaction Enquiry and related workspaces.