Add Opening Balances for Suppliers

To record an opening balance for a supplier, either enter the details using aJournal, or import the details.

When adding an opening balance: 

• If posting at the beginning of the financial year:
  • Set the Document Date as the first date of the financial year
  • For the required year, select 00 as the Document Period
  • Credit the 9500 - Purchase Ledger Control nominal for each required account
  • Debit the document total to the 9900 - Surplus / Deficit for the Year nominal
• If posting during the financial year:
  • Set the Document Date as the date the supplier was added to IRIS Financials
  • In Document Period, select the period the Document Date is in