1.3.2: How to Post Opening Balances for Suppliers.

1.3.2 Posting Opening Balance for Suppliers 

How to post opening balances for suppliers.

Step 1. Click on the Accounting menu item as shown below.

C:\Users\25470\Desktop\user guide for ucb\Screenshot_1.png

Step 2. In the accounting page that opens up click on accounting.
Step 3. Click on journal entries and fill in the details of your suppliers as shown below.
 C:\Users\25470\Desktop\user guide for ucb\Screenshot_11.png

NB. In this case, we will use the same journal created earlier named “Opening balance”.  In charts of account, we will use the previous formed charts of account called Opening balance.

Below is a list of suppliers to be posted in our journal entries.

C:\Users\25470\Desktop\user guide for ucb\Screenshot_16.png

Step 4. In the journal entries, fill first the total summation of the amount you owe your suppliers,
Step 5. Then fill in each individual supplier as shown below.
Step 6. When you have posted all suppliers, click on save and post button as shown below. 

C:\Users\25470\Desktop\user guide for ucb\Screenshot_17.png

Next: How to Create a Bank Account

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