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Adding open
invoice for balance forwards:
You will
certainly want to input all your customers into the
company database. If you have a great deal to enter (and
can’t import them) then enter the customers with a
balance due first.
There are
two methods of entering the balance forward amounts. You
can create a single invoice with the balance forward
amount or you can enter each outstanding invoice.
Our
experience has shown that it’s best to enter each
invoice separately, for two reasons. First, the quality of
your bookkeeping is dramatically improved by having the
exact date of each invoice and the aging reports and
screens will be fully accurate. Second, it’s a good
practice session to enter those invoices. During this
entry period, you will be able to see which fields you
want on the screen, which fields need to be entered on a
new invoice, and whether or not your inventory or pricing
file is set correctly. (You may not be able to set up the
inventory file adequately during this period, so you may
be using lots of "misc." entries. That’s OK.)
This is also a good time to test your customized invoice
printout format.
Finally, if
outstanding invoices are entered separately, it will be
easier to make payments to the exact invoice instead of an
unknown balance forward number.
Any
customer who has any unpaid invoices will
automatically be placed in the accounts receivable file.
When all invoices are paid, the customer will
automatically be removed from the accounts receivable
file.
As you enter each new
customer, you can add any outstanding invoices and orders
at that time.
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