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

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

When you are currently using other system and is now migrating to Realtimme Cloud, as part of the system setup, usually you will have suppliers' invoices still owe by your company from the previous financial period,

you need to take it up in the Realtimme system as Opening balances, so that when you make payment in this financial period, you can match the payment against these invoices

 

You have 2 options....

1.Manually add enter the suppliers' opening balances (Fig 1)  one by one  (Fig 4, Step1 to 8)  or
2.If you are migrating from other accounting software, you can do an import from the excel template provided.

 

Assuming you want to start Realtimme cloud in 1st April 2019,

Exercise: Assuming the followings are suppliers with outstanding balances as follows: as at 31st March 2019

         

Fig 1

 

                                                                                                         


 

At [A/c Entry], click [Purchase Journal] .

 

Click [Opening Balance] tab, click [Add],

 

 

Enter each supplier's opening balance as at 31st Mar 2019, by following the step 1 to step 8 as shown below.

 

   

 

Repeat the above for Supplier BCD (Take note the exchange rate to be the closing rate, not transaction rate)

 

Repeat the above for Supplier DEF

 

 

Next, go to next Topic 8a: Negative Supplier Opening Balance

or go to Topic 13: Bank Unpresented cheques/ receipts balances brought forward

or Back to Getting Started

 


 

 

Related Topics

Tax : OP (Out-of-scope Purchases)

 

Customer Opening Balance

 

GL Opening Balance

 

Bank - Unpresented Cheques b/f

 

Getting Started

 

 

Watch all videos:

Realtimme Training Portal

http://realtimme.cloudapp.net/basic/index.html?opening_balance_-_supplier.htm