How to Input Opening Balance for Vendor Ledger Entries?

dede_aja_tuhdede_aja_tuh Member Posts: 39
Hi All,

Just Direct to the point of my problem. As i know, if we want to input opening balance for AP (vendor card) :
1. Go to Purchase Journal menu
2. Choose option INVOICE in field Invoice
3. Choose option VENDOR in field ACCOUNT TYPE
4. Choose the Vendor

5. Choose option G/L Account in field BAL. ACCOUNT TYPE
6. Choose the COA with the same COA which put in Vendor Posting Group

If we post this transaction, it will hit the journal :
[D] AP
[C] AP

of course with the same amount, so, if we back look in the Vendor Card | tab General | Field Balance (LCY) | Click assist button, it will show 1 invoice that we posted before.

My question is :
It's OK with this way to create opening balance for vendor in vendor card because it unchanged the balance of COA AP (zero). But my point is how should i do if i want to create opening balance vendor without CREATING A JOURNAL or DO POSTING but the result is, having invoice in Vendor Card | tab General | Field Balance (LCY)?

And the reason why i ask this? because my assume is Opening Balance just direct to the vendor invoice, no need create journal.

Any advise?



  • rsfairbanksrsfairbanks Member Posts: 107
    I would not balance it to the account you have in point 6, but to a control account for reconcoling the brought forward figures. Usually I use the Balance sheet P&L account brought forward. This ensures that the vendor ledger will match the g/l control account. I would do the same for Sales Ledger, Item Ledger and Fixed Asset Ledger.

    You need to do a journal to get the double entry correct
  • AndwianAndwian Member Posts: 627
    You should have it like this:
    [D] Retained Earning
    [C] AP
  • bghubrbghubr Member Posts: 16
    Post a payment journal and let it post as is.
    Then post a general journal to reverse the entries if you do not need them in g/l.
    This way you can put descriptions on the reversing entries explaining why they were reversed.
    The maintains a clear audit trail.
Sign In or Register to comment.