Hi,
We are uploading our opening balances for customers.
customer opening balance added via sales invoices.but we are facing a situation
Customer gave advance for a work.but the project cancelled due to some reason,so we have to return that amount to customer.in peachtree this amount is represnted as negative value.
How can i upload this negative amount as opening balance.in sales invoice it is showing like amount should greater than zero.
That’s right. You won’t be able to create opening entries for Income and expense accounts​. If it is against a customer you will have to mark entries against debtor account and bank account or their equivalents in your system.
Trust everyone’s doing great. I’ve been meaning to ask why there’s the restriction on -ve invoice amounts as stated by @renjukumar in the original post above. This restriction has caused headaches for people trying to bring in invoices from other systems (which generally allow such).
@umair any thoughts on this? I believe it’ll help make onboarding easier. A user should be able to freely import his/her existing invoices (+ve and -ve) without hassles
Yes, we also have several customers that have credits with us from our previous system and they don’t have any opening invoices so we need to bring this credit into ERPNext in order to maintain good records. Is there any way to have a negative opening invoice? I’ve tried several different ways to no avail.
Yes.You can bring debtor or creditor with negative opening balances to ERPnext.Simply use opening journal.Take for example 2 creditors A and B with negative opening balances of N30,000 and N40000 respectively.Debit these balances to Creditor and select party A and B respectively and make such you select YES to “is Advance”.Credit N70,000 to Temprorary Opening Account.
Same is applicable to debtors with negative opening balance.
Thanks
Fred