Opening Balance - Customer  (Debtors)
  (If your company is newly setup, you can skip this topic)


This topic is replaced by Import Customer Opening balance using Excel Template


To enter customers' opening balances - local and/or foreign currency

Question : Why need to enter customer opening balances into Realtimme Cloud system?

Answer here...

When you are currently using other system and is now migrating to Realtimme Cloud, as part of the system setup, if you give credit terms to your customer, there will have customers' invoices still owe to your company from the previous financial period,
(Assuming you want to start Realtimme cloud on 1st April 2019, your customers' unpaid balances, by individual invoice,(as at 31st Mar 2019), need to be entered into Realtimme Cloud as Opening balance.

When you receive payment from your customers this year in April 2019 onwards, you can match against these invoices.
As part of the system setup, if you have unpaid customer invoices from the previous financial period, you need to take it up in the Realtimme system as Opening balances, so that when you receive payment in this financial period, you can match the payment against these invoices.

For example you have customer ABC owing you 3 invoices as at 31st March 2019 (If your year end is March 2019), you need to enter the detailed information of the 3 invoices under this customer into Realtimme system on or before 31st March 2019 as opening balances, so that comes 1st April 2019, and thereafter, when this customer make payment to you, you can offset the payment against this outstanding invoices.
Please get ready a listings of all the customers' outstanding balances as at 31st March 2019 to enter into the Realtimme system.

Question : Can I mass import customer opening balances using excel file, into Realtimme Cloud?  

Answer : Yes, click here    



Exercise: Assuming there are 5 customers with the following outstanding balances(positive and negative) :
You will learn how to enter an opening balance with 1) base currency positive value invoice, 2) a negative value invoice (credit note or overpayment) and 3) foreign currencies invoice)


At [A/C Entry], click [Sales Journal].


Click [Opening Balance] Tab, followed by click [Add]








Opening Balance in Foreign currencies...Click here...

            Note: Set closing rate (revalued) for USD to 1.4000 against SGD as at 31st Mar 2019, use the rate 1.4000 instead of the book rate of each transaction.






Note: Customers’ balances in foreign currencies will be valued at closing rate as at 31st Mar 2019  (1.4000) notwithstanding the fact that each invoice is booked in at a different rate (1.5500)


If you see this message, make sure that the type is set to [Opening ] and the date is set within the Financial Period "0" zero




Repeat the above for the next customer FTC , enter the information as shown below.





Next, go to topic of Negative customer opening balance (if there is any)

Next Topic12 : Supplier balances brought forward (See batch Import)

Back to Getting Started




Related Topics

Tax : OS


Type : Sales


Receipt when customer makes payment to your company


Opening Balance - Supplier (Creditors)


Opening Balance - cheque unrepresented b/f


Opening Balances - GL


Getting Started



Watch all videos:

Realtimme Training Portal