Loading Opening Purchase Invoices, Credits & Payments on Account
When you load your opening balances, there will generally be a value on the 8000 Accounts Payable Nominal Code. We will use a simple trick to recreate this value and maintain the aging of your Aged Creditors, so that your credit collection processes are not disrupted.
Spring Clean Your Ledger
Before you start the migration process it is very worthwhile “tidying up” the old Purchase Ledger to make sure that all old Purchase Credits and Purchase Payments on Accounts have been allocated and that any penny differences are written-off, if you do not plan to pay them.
Check this before you start in your old accounting systems and after you have migrated it to Aedon.
Key Reconciliation Check
8000 Accounts Payable = Aged Creditors Report = ∑ Supplier Account Balances
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Opening Balances Suspense Accounts
There are 3 Opening Balance Suspense Accounts in the standard Aedon Chart of Accounts
| 9990 | Opening Balances – Accounts Receivable Suspense |
| 9991 | Opening Balances – Accounts Payable Suspense |
| 9992 | Opening Balances – Bank Balances Suspense |
Step-by-Step Process
Load the Opening Trial Balance
When you load the Opening Trial Balance, do not use 8000 Accounts Payable instead put the value into the 9991 Opening Balances – Account Payable Suspense.
Load the Individual Open Purchase Invoices
Then you will post each of the outstanding Purchase Invoices against that account using a standard Aedon Product called Opening Purchase Invoice, Credit or POA which has a default nominal code of 9991 and a VAT Code of X, so that it does not affect the VAT return. These invoices will use the original invoice date to maintain the creditor ageing and the Customer Reference Field should contain the original Purchase Invoice Number to maintain a clear audit trail.
The debits and credits for the Sales Invoice are:
| Nominal Code | Nominal Name | Debit | Credit |
| 9991 8000 |
Opening Balances – Accounts Payable Suspense Accounts Payable |
XXX | XXX |
Load the Individual Open Sales Credits & Payments on Account.
Repeat the process for the Open Sales Credits.
The debits and credits are the reverse of the Sales Invoice:
| Nominal Code | Nominal Name | Debit | Credit |
| 8000 9991 |
Accounts Payable Opening Balances – Accounts Payable Suspense |
XXX | XXX |
Reconciliation Checks
When all the Open Purchase Transactions are entered the value on the 9991 Opening Balances – Accounts Payable Suspense will be zero and the valuer on 8000 Accounts Payable will be the intended balance.
Then do the reconciliation check from above :
8000 Accounts Payable = Aged Creditors Report = ∑ Supplier Account Balances
Bulk Loading & Posting of the open Purchase Invoices, Credits and Payments on Account
It is possible to load the open Purchase transactions in bulk using XL Connector or a similar tool.
