Enter Vendor Beginning Balances
Once you save a vendor, you can enter beginning balances for the vendor.
Note: When you are entering your vendor's beginning balances, do not enter invoices that you have already entered in the Purchases window.
Open the Vendor Beginning Balances window
- Click the Vendors navigation aid on the Vendors & Purchases Navigation Center and select New Vendor. The Maintain Vendors window will be displayed.
- Enter or select the vendor ID. If you don't select a vendor here, you can select one on the Vendor Balances tab of the Vendor Beginning Balances window.
- On the History tab, select the Vendor Beginning Balances button. Sage 50 displays the Vendor Beginning Balances window.
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On the Purchases from tab,
enter the invoice number, invoice date, purchase
order number (if applicable), amount, and the appropriate A/P account
(if necessary) for each unpaid invoice for this vendor that needs to be
recorded when starting Sage 50.
Note: If you are using accrual-based accounting, you must select an A/P account. If you are set up as cash basis, the A/P Account field will be disabled.
If you need to enter more than one line on this tab, press ENTER and continue adding invoices.
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To enter beginning balances for additional vendors, select the Vendor Balances tab. Double-click the
vendor name or highlight the name and select the Purchases from tab.
Note: When you are setting up your company, it is important to remember that the total of the beginning balances entered here needs to equal the total amount you entered in your G/L beginning balances for all accounts payable account types.
- Click Save when you are done.