Taking on customer balances

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

To enter the opening balances go to Customer > Customer Journals  and click on the New Journal button.

When entering the opening balances, the General Ledger account you must select is the Controls > Customer Opening Balances account or whatever General Ledger account your accountant may have created for this purpose.

If you need to enter aged balances, obtain the balances for each aging period. Ensure that each is entered separately, and that the selected date reflects the age of that balance for each customer. (see image below).

The preferred way would be to import your customers and opening balances from a CSV file. If your data is in an Excel spreadsheet, save the Excel spreadsheet as a CSV file.

Go to Customer > Extra and click on Customer Import From CSV.

After adding or importing all the journals you can transfer the final amount in your Controls>Opening Balances to your Capital (Owners Equity) account by using the Ledger > Adjustment Journal.

To make sure that you have processed the take on correctly, print the customer age analysis and compare it with the one you used to take on the balances.