Supplier Opening Balances

The method of entering the opening balances for your suppliers is different depending on whether you are using the Standard VAT Scheme, or VAT Cash Accounting.

Using the Standard VAT Scheme

You can either enter your supplier opening balances as lump sum balances, or you can enter each outstanding invoice and credit note separately, to make it easier for you to match payments later.

Using VAT Cash Accounting

You should enter each invoice and credit note for your suppliers individually, with the correct tax code.

Related Topics

To Enter a SupplierÆs Opening Balance Using Standard VAT

To Enter a SupplierÆs Opening Balance Using VAT Cash Accounting

The Suppliers Window