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Opening Balances for Customers and Suppliers
Opening Balances for Customers and Suppliers
Updated over a week ago

Opening balances represent the amounts owed to or by a customer or supplier from transactions that occurred before the start of a new financial period. In Rewaa, you can add these balances manually using journal entries. Here's a step-by-step guide.

Steps to Add Opening Balances

  • Add the Customer/Supplier to the Platform

  • Create a Manual Journal Entry

    • Go to Accounting > Journal Entries > New Manual Entry.

  • Enter the Following Details:

    • Date: Specify the date for the entry (past, present, or future).

    • Location: Select the relevant branch.

    • Notes: (Optional) Add any additional notes.

  • For Supplier Balances:

    • Account: Select Account Payable.

    • Supplier: Choose the supplier's name.

    • Enter the amount in the appropriate column (Debit or Credit).

    • Add a description (optional).

  • For Customer Balances:

    • Account: Select Account Receivable.

    • Customer: Choose the customer's name.

    • Enter the amount in the appropriate column (Debit or Credit).

    • Add a description (optional).

  • Other Account:

    • Select the corresponding offset account (e.g., Opening Balances).

    • Enter the amount in the appropriate column (Debit or Credit).

    • Add a description (optional).

  • Attachments: (Optional)

    • Add any supporting documents in PDF or image format.

  • Save the Entry:

    • Click Save.

    • Alternatively, click the arrow next to Save and select Save and Print to save and print the entry immediately.

  • View Details:

    • The journal entry will be added to the list of entries.

    • Click the 👁 icon to view details.

Viewing Account Details

  • Navigate to Accounting > Chart of Accounts.

  • Search for the account (e.g., 20101 - Account Payable).

  • Click the 👁️ icon to view recent transactions and account details.


FAQs

1. Can I edit the opening balance after adding it?

Yes, you can edit the journal entry:

  • Go to Accounting > Journal Entries.

  • Locate the entry, click the three dots in the filter column, and select Edit.

2. Do opening balances automatically reflect in customer/supplier accounts?

No, opening balances added as manual journal entries won't automatically appear in customer/supplier accounts. You need to manually track or link them for related transactions.

3. Can I add opening balances directly in the customer/supplier profile?

This feature is under development and will be included in future updates. For now, use the method described above.

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