how to post the opening balances for customer and vendor

Business Central/NAV User Forum
1

hi forum,

how can i post the opening balances for the customer and vendor, bill wise balances i.e. invoice reference wise. please can you help me in this, one of my client is going live. Any sort of help is appreciated

thanks in advance

Regards,

Satya

2

Import or manually key the data into the sales and purchase journals, then post the journals and balance off the debtors. Use the search for lots of variations on this and other questions regarding opening balances.

3

thanks for your reply,

when i import the data into sales or purchase journals i will assign the account type as customer or vendor and what account should i assign in the balancing account because i required only the customer and vendor balances, but without assigning balancing account i cant post the sales or purchase journal. so can you explain this how to do

Regards,

Satya

4

You define this as your opening balances suspense account. When the opening GL entries are created they will be balanced to this account, the debtor and creditors will be posted directly to this account rather than the debtors or creditors as your opening balances import for customers and vendors handle this. At the end of the creation your suspense account will balance to 0.00 otherwise you have not created your opening entries correctly.

5

i wll explain what i understood . i will create the suspense account and assign it to the balancing account and account type will be customer or vendor. so one side will go to the customer or vendor account based on posting group assigned to the customer or vendor and other side goes to the suspense account then how the suspense account will get nullify i.e. zero

6

The suspense account will be zero when you enter ALL of your opening GL balances as this is used as the balancing account when creating every entry, and ultimately, with your profit/loss your full accounts will balance to zero. I suggest you go and have a chat with the accountant and explain what you are doing, they should understand the concept.