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.