Taking On Supplier Balances

1. Obtain Supplier Balances

Retrieve the required balances from your supplier age analysis report in your previous system.

2.  Enter Opening Balances

Navigate to Supplier > Supplier Journal and click New Journal Batch.

Select the general ledger Controls > Supplier Opening Balances account, or use the General Ledger account your accountant has designated for this purpose.

3️. Entering Aged Balances

If entering aged balances, obtain the balances for each aging period.

Ensure that each balance is entered separately, with the selected date reflecting the age of that balance for each supplier.

❖ Preferred Method: Importing from Excel

Go to Supplier Journal > New journal Batch and  and select Import XLSX from the Extra button.

➢ Finalizing the Process

To verify accuracy:

•Print the supplier age analysis report and compare it with the one used to take on the balances.