Opening Balances for both Suppliers and Customers

I need help for entering the opening balances (after i have entered all the invoices)

For suppliers do I only enter an purchase invoice with the opening balance figure dated on the first date of the year?

For Customers how do i do it? (customers invoices still not entered)

Have you tried following this guide: http://www.manager.io/guides/miscellaneous/setting-up-opening-balances/

I cannot find opening balances tab.

This is a printscreen: http://prntscr.com/55wf4h

Upgrade to the latest version from http://www.manager.io

Just done that!
thanks

Little quirk that might need updated. I just re-entered the opening balances for Customer Advance Payments (had done it with a journal entry) as I’m still in the process of setting things up. I notice that when you get to the screen that lets you enter the balance, the customer’s name does not appear. Instead I could see one of my custom fields. It would be helpful to see the customer’s name.

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Opening balances for customers and suppliers must have a place for their names to be selected.
Instead of simply creating a general opening balances.

You can’t post directly to Customer Advance Payments account. Even when you are setting up opening balances, you still need to select customer for which opening balance is being established so it’s not like you can make a mistake. It’s impossible to post directly to control account.

I agree when setting up opening balances, the user interface is not polished enough and doesn’t give enough information where you are. Although It’s working, usability improvements will be made in due course.

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I need to set up opening balance for each of my customer (Accounts Receivable) instead of inserting the yester year of Invoices. Any scope?

Why you don’t want to add to Manager list of all unpaid invoices? This way you can send your customers custom statements with proper aging categorization and more.

You do not have to enter your entire sales invoice history, only those that are not paid in full.

We make invoices manually. We don’t maintain invoices on the computer. Everything from Bank and Cash, receivable and payable are done manually.

We are planning to take over our running books of account on manager. But a year has passed since and tax filing has to be done. So we have to prepare a balance sheet and p&l account. To do so, is there an easy way to enter all the invoices and expenses.

Maintaing accounts of a startup is easy on manager.Taking over and Maintaining accounts of a running business is something that should be taken care of.

This is where bulk import plays an important role for those who dont maintain invoices on computer

Yeah, but in your case bulk-import wouldn’t solve anything. All those imported invoices would be marked as unpaid. Then you would have to go to your bank account and re-categorize all receipts from income accounts to specific customers.

Anyway, you can start using accounts receivable and accounts payable anytime you want but you will really need to understand double-entry accounting principles as not to double-up anything. One way to handle it is to enter those unpaid invoices and then enter reversing journal entry so you have those unpaid invoices in the system but their effect on your books is nil.

If you are not confident to do this. Generally I just recommend to start new accounting file where you take advantage of all the modules you need from day 1. Much cleaner approach.

Hello Lubos.
Thanks for great accounting software. Till now all the small traders use manual accounting methods but As you know GST is implemented in India. Everyone is trying to move to computer accounting software and I recommend Manager to them. They all loved this but some issues if you can help with.
Main issue is opening balance. Please enable opening balance of customers and suppliers as it is required. It’s not possible to enter all previous unpaid invoices as they are not paid fully. Please help

Unfortunately, the only way to enter customer and supplier balances is via entering the unpaid invoices. You only need to enter those invoices which are unpaid as at the Manager start date - say July 1. Also, if some invoices have been partly paid then you only need to enter the balance that is unpaid, not the invoice total.