Vendor Beginning Balances Payments
Purpose
Beginning Balances can be entered for customers, vendors, projects, accounts, and items. The forms for customers and vendors are identical, however, and are described together here. This form is used to account for prior transactions -- transactions that occurred before the card of the person involved was created. Before you can edit the Beginning Balances for any card, you should save that card.
Usage
1. Enter the reference number
The transaction you are entering should have a reference number to uniquely identify it. This number would have been assigned by your accountant or the accounting system you used. Enter that number in the grid.
2. Enter the transaction date
This would be the date on which the transaction was posted.
3. Enter the amount
Enter the amount of the transaction in this column. If it was negative, indicate that fact. Integral Accounting will calculate the customer or vendor's beginning balance by adding up this amount column.