BrightBooks allows you to manually set up supplier balances from the end of a previous accounting period as quick invoices and receipts. When you set up regular purchase invoices and receipts, the opening balance values are added to the regular purchase invoices and receipts.

To set up opening supplier balances, complete the following steps.

1. Log in and click the required business.

2. The Customers page appears. On the left panel, click Purchases > Opening Supplier Balances.

3. The Opening Supplier Balances page appears. To set up a quick invoice, click Invoice.

4. The Quick Supplier Invoice Opening Balance page appears. Set up one or more quick invoices. (For steps, click here).

You can set the invoice set up date in the Date column up to 5 years from the current financial year.

5. Optional. Split the invoices. (For steps, click here).

6. To set up quick payment receipts, click here.

To set up Opening Debtor and Creditor balances, you would need to complete 3 steps:

1. Create an Opening Balance Journal for all nominal codes, including the Debtor and Creditor Ledger nominal codes.
2. Post the Opening Balances on the Individual Debtor and Creditor Accounts. This doubles the value in the Sales and Purchase ledger and also puts a value in the Opening Balance nominal code.
3. Create a Journal to cancel out the original Opening Balance values from the Opening Balance Journal and offset it against the Opening Balance nominal code. This will then bring the Opening Balance nominal code back to zero and restore the correct balances in the Sales and Purchases ledger.

Viewing Opening Supplier Balances

To view a specific opening balance record, on the Opening Supplier Balances page, click anywhere on the row.

If you sort any column other than Date, then the Date column is also sorted accordingly.