Using Express Accounts for Old businesses

Xpressit

I am new to Express accounting and have gone through the software but do not know how to incorporate old customer balances into the software. Also for loan debtors and creditors. How do I integrate the figures?

Thanks

N_C_H_OMG

- Go to 'Customers' window from 'View' menu,

- Select a customer or Add a new customer,

- Click 'Edit' button on toolbar to edit the details of the selected customer,

- Go to 'Info' tab and edit the opening balance to the desired amount,

- Click 'OK'.

Similar can be done for a supplier.

Also the 'Opening balances' for many accounts can be changed from the 'Chart of Accounts' window.

I suggest you should check and verify 'Balance sheet' and 'Income statements' on modifying any opening balances.

Hope this helps!

seaquill

Great instructions! I am a new user and they are easy to follow! The only part I had difficulties with was entering a value in the 'Oldest date due' and 'last invoice' fields. I am able to select the field but no enter the values. Do you know why?

I am using Express accounts Plus 5.04.

prfchan

know how to set up opening balance for each supplier, however, don't know how to pay the opening balance in A/P, cannot choose to pay for balance owing

N_C_H_Isaias

seaquill wrote:

Great instructions! I am a new user and they are easy to follow! The only part I had difficulties with was entering a value in the 'Oldest date due' and 'last invoice' fields. I am able to select the field but no enter the values. Do you know why?

I am using Express accounts Plus 5.04.

Hi sequill,

The fields of Oldest Date Due and Last Invoice are auto-populated fields from the invoices created within the program, these fields are not user editable fields. Until an invoice is created for that customer the data will be shown there.

N_C_H_Isaias

prfchan wrote:

know how to set up opening balance for each supplier, however, don't know how to pay the opening balance in A/P, cannot choose to pay for balance owing

Hi prfchan,

To pay a balance owned to a supplier the best way to go is to submit a a payment using the option 'Immediate payment or purchase' you can select the supplier and the amount. And in the Journal memo you can just specify it is a payment for the Opening balance in the suppliers account.

prfchan

thank you for your advice