I’ve started using ERPnext (cloud version) in my company and find it really great.
I have a question regarding Accounting module and particularly Accounts Receivable report:
I’ve started fiscal year with opening journal entry. I didn’t want to spend lot of time to it, so I just created customer named ‘2016 earnings’ and created journal entry for it like this:
Credit from Debtors
Debit to my bank accounts
So that I entered opening values for all of my bank accounts.
After that in Accounts Receivable report I observe the following entry:
Customer:2016 earnings
Voucher type: Journal Entry
Voucher No: JV-00001-1 Invoiced amount: 0
Paid amount: X
Outstanding amount: -X
So my question here is how to make this entry disappear. I tried to create invoice like this:
Customer: 2016 earnings
Debit to: Debtors
Is opening: Yes
But it returns error on submit:
Sales Invoice Y: ‘Profit and Loss’ type account Sales not allowed in Opening Entry
So, what’s correct way to make that entry in accounts receivable disappear?
Is there actual outstanding/advance payment from customers? In that case, it should be visible in Accounts Receivable report, why you want to remove this entry from AR report?
Well, I created opening entry in order to set up initial balances for each of my bank account for the beginning of 2017.
I used this instruction - https://frappe.github.io/erpnext/user/manual/en/accounts/opening-accounts
So, actually this whole amount X was obtained during 2016.
I don’t want it to be visible since it’s not related to my current earnings in 2017.
Hi there.
Just a small follow-up - now I see this starting amount in Trial Balance report as credit for Assets → Temporary Accounts → Temporary Opening.
That’s a bit unhandy for me so is there any way now to hide it in this report? So I have actual Assets closing (dr) value?
Ideally, you should import whole closed Balance Sheet as opening entry. Then only you will get correct trial balance and in that case, the balance of temporary account will get nullified automatically.