Dear Concern,
We are Using Cloud Version, we can’t Find Starting Balance Option to Incorporate our Prev Balances in Books, pls look into this matter.
This has been changed.
You will have to enter the start date in the settings and then:
- create sales invoices for starting receivables
- create purchase invoices for starting payables
- Everything else should be entered as starting balance in the relevant master (i.e. salaries payable in employee, net book value in fixed assets, customer credits in customer … etc.)
You can check the guides here:
So we Can Add Starting/Closing Balances through Journal Entry?
Dr. ABC Customer
Cr. Sales ?
No
If the starting balances include unpaid customer invoices, you enter them as specified in the guide linked to above
Only if it is a credit balance ie your business owes the customer money
If he owes the business money, then you must enter the invoices outstanding
This is all explained in the guide - did you read the guide?
2 Likes
Now I got it. Thanks