Cause: When entering the opening balances, the individual outstanding invoices/bills/overpayments etc. that sum to make the accounts receivable/payable control account balance need to be entered.
Explanation: Unpaid or partially outstanding invoices/bills/overpayments etc. need to be included so any subsequent payments or refunds made in the conversion period or later have a corresponding invoice, bill or transaction to match or allocate against.
Was this article helpful?
That’s Great!
Thank you for your feedback
Sorry! We couldn't be helpful
Thank you for your feedback
Feedback sent
We appreciate your effort and will try to fix the article