How to enter opening balance - AR/AP Page 1 of 3

How to enter opening balance - AR/AP

Though AutoCount Accounting allows you to key in opening balances of debtors/creditors directly without maintaining any transaction
entries, it is advisable not to key in opening balances of personal account (debtor/creditor) directly, instead, add 'Past' entries or 'YTD'
entries at AR/AP menu and have debtor/creditor opening balances or YTD balances updated automatically.

* to allow key in opening balance directly for debtors/creditors, go to Tools > Manage Fiscal Year, highlight current fiscal year, check
the checkbox of

It is not advisable to key in debtor/creditor opening balance in this way because it keeps no record of entries, thus will not be
shown in debtor statement and knock off payment is not available.

* go to AR/AP menu to key in 'Past' entries or 'YTD' entries such as Invoice, CN, DN, Payment.... If you do not wish to key in all the
outstanding bills one by one, you may just add one Past or YTD invoice with the total (one lump sum) outstanding balance. The
amounts of Past/YTD entries will be updated to Opening/YTD Balance; if not, go to Tools > Manage Fiscal Year, highlight the
current fiscal year, click on

or
.

Past Entries
Past entries means A/R or A/P entries (usually Invoice, but also including Payment, DN, CN...) that is created with a date prior to current
fiscal year.
For example: A/R Invoice

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YTD Entries
YTD (Year-To-Date) entries means A/R or A/P entries (usually Invoice, but also including Payment, DN, CN...) that is created with a
date on/after Start Date of current fiscal year but prior to Actual Data Start Date.

For example: A/R Invoice

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