HOW TO ENTER OPENING BALANCES IN HISAAB ERP SOFTWARE?
Inventory Opening Balance:
Go to Items and Inventory -> Transactions -> Inventory Adjustments
- Select Location,
- Select Opening balance date
- Set Details as Opening Balance
- Set Type as Positive Adjustment
- Enter items, quantity and cost one by one and click Add Item
- Click Process Adjustment to save
- Check the effect in the inventory reports to verify.
Customer Opening Balance:
Go to Sales -> Transactions -> Direct Invoice
- Select Customer and opening balance date
- Enter OB in item code and enter total opening balance amount of that customer in Price after Tax and click add item.
- Click Place Invoice to save.
- Check the ledger from Customers->Reports->Customer and Sales Report->Customer Balances to verify the balance
Supplier Opening Balance:
Go to Purchases -> Transactions -> Direct Supplier Invoice
- Select Supplier and opening balance date
- Enter OB in item code and enter total opening balance amount of that supplier in Price After Tax, click add item
- Click Process Invoice to save.
- Check the ledger from Suppliers->Reports->Supplier and Purchasing Report->Supplier Balances to verify the balance
Cash and Bank Opening Balance:
Go to Banking and General Ledger-> Transactions -> Journal Entry (J.V)
- Select opening balance date
- Select account name from Account Description
- Enter opening balance amount in Debit column (e.g 50,000)
- Enter Memo (e.g Opening balance of Bank Alfalah as at 1.7.2013)
- Click Add Item
- Now select any other cash or bank account if required and repeat steps 3-5 above
- Select Account code 3351 – Opening Balance Equity
- Enter the accumulate balance in the Credit column and click Add Item
- Click Process Journal Entry to save
- Check View this Journal Entry to verify the transaction effect.