Starting GNU Cash with existing Customer & Vendor Balances
Hello,
I am okay regarding General Ledger opening balances, but what about the individual opening balances of customers and vendors. I have been searching myself lame on the web and finds nothing. I can export my customer and vendor details from my present bookkeeping system, but not their balances. I am now sitting at the beginning of a new financial year with present customers/vendors with zero balances.
Please help. There must be a way!
For open invoices and bills, you can just enter those that are still open from the previous accounting year or make one fake one (obviously per vendor/customer) that summarizes the balance at the beginning of your book.
If you have an opposite balance (pre-payments waiting for a future invoice/bill) you can enter that pre-payment via the Process Payment menu options for vendors and customers.
What more do you need to track for vendors and customers ?