Creditor and Debtor balances on the Balance Sheet do not reconcile after entering Opening Balances from legacy accounting system.

Zumzum Financials Knowledge Base

    Issue

    Creditor and Debtor balances, on the Balance Sheet, do not reconcile after entering Opening Balances.

    Solution

    If you have posted your Creditor and Debtor balances to the control accounts, your reports shall no longer balance if you individually add supplier or customer invoices too.

    You may need to consult with your accountant about the journal entries you may need to enter to reverse the opening balances to make the Debtors and Creditors zero.

    You may then enter individual invoices to generate your Debtors/Creditors balances.

    in BankSetup