How Do I Enter Opening Customer Balances?

Note the same instructions apply for Supplier Balances, just do a Supplier Adjustment.

You may enter the balances as current 30, 60, 90 days by creating a Customer adjustment dated eg. 30th of July for 30 days, 30th June for 60 days, 31st May for 90 days.

If you wish to have each individual invoice against the account then load each one as a Customer adjustment with the original invoice date this will create the aging correctly. 

Check International customers or suppliers – i.e. It is important to confirm any International Customers or Suppliers before entering any totals as those balances will likely need to be entered exclusive of GST.

The method of Entry will vary depending on the GST Basis.

GST on Invoice Basis

If the Data file is set up with the GST Basis being INVOICE, then the outstanding balances for Customers may be entered under Customers/Enter Adjustment. The G/L ID should be the Customers Control Account. Important: Make sure that the GST Rate is set to Exempt, as you have already claimed and returned the GST Content

GST on a Payments Basis

If the Data file is set up with the GST Basis being PAYMENT, then the outstanding balances for Customers may be entered under Customers/Enter Adjustment. The G/L ID should be the Customers Control Account.  Important: Make sure that the GST Rate is Set to Inclusive, this will ensure that the GST is claimed when the payment is received. 

The Customer Control Account will now have a variance.  This is because the journal has split part of one side to the GST Control account. A correcting journal needs to be done to resolve this.  The correcting journal will be a credit to the Customer Control Account and the debit to the GST on invoice account for the total value of GST on the entries, which is the value of the variance.

See How Do I Enter Opening Balances in the General Ledger