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Entering supplier opening balances and historical purchases

Not available in AccountRight Basics

When setting up your company file, you might need to enter supplier opening balances and historical purchases. This lets you enter supplier payments against purchases that were made prior to the date you started using AccountRight (your conversion date). The purchases you made for which you haven't yet paid are called pre-conversion purchases.

This article explains how to enter:

  • the opening balance of your Trade Creditors account - this represents the total of what you owe your suppliers.

  • historical (pre-conversion) purchases - these are the individual purchases, the total of which should equal the

     

    opening balance of your Trade Creditors account.

Historical purchases will not generate BASlink (Australia) or GST return (New Zealand) figures, so your BAS/GST return must be done manually for these periods.