Sage 300

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Opening balance AP and Bank

Posted By Pritikumar17 over 5 years ago

Hi,

To setup enter AP opening balances in previous versions, a SETUP bank account had to be created to enter to outstanding payments. Hows is this done in new sage versions.

0 Jay Converse Acumen over 5 years ago

No different, and not necessary in the first place. SETUP doesn't mean anything, it could be ABC or XYZ.
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0 Pritikumar17 over 5 years ago in reply to Jay Converse Acumen

what is the correct procedure to migrate AP cash transactions and perform initial bank rec?
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0 Jay Converse Acumen over 5 years ago in reply to Pritikumar17

Import Bank Entries
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0 Pritikumar17 over 5 years ago in reply to Jay Converse Acumen

so the outstanding payment entries do not need to be entered in AP payment batch?
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0 Jay Converse Acumen over 5 years ago in reply to Pritikumar17

No, only if you expect to need to reverse them, which would reopen the original AP invoice.
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Sage 300

Opening balance AP and Bank

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