How to record a Supplier Prepayment as a starting balance?

1

Hello Everyone,

I am setting up my starting balances in Manager.io. I have a case where I need to record a prepayment (Debit balance) for a supplier as a starting balance.

Note: I am using the latest version, and the “Start Date” option is not available in my Settings or even under “Obsolete Features”. Instead, I have the new “Starting Balances” dashboard with icons for various account types.

Since there is no unpaid purchase invoice for this prepayment, what is the correct procedure to enter this? Should I enter it as a Debit amount for the supplier under the “Accounts Payable” starting balance, or is there another way through the new interface?

Thank you for your support!

2

I think you’ll have to record the prepayment using a journal entry.

3

I agree