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Opening Balance for Customers and Vendors

You could be carrying over your customer or vendor balances when you migrate from another accounting application to Zoho Books. You can record those balances in Zoho Books in the following ways:

Insights:

  • Outstanding Receivables in the customer Overview page contains the total amount the customer owes you (for the invoices created) and also contains the opening balance you initially added for the customer.
  • Outstanding Payables in the vendor Overview page contains the total amount you owe your vendor (for the bills created) and also contains the opening balance you initially added for the vendor.
  • Outstanding Opening Balance is the amount the customer owes you or you owe a vendor, excluding the sales and purchase transactions recorded in Zoho Books. Each time you record a payment (other than the payments for invoices or bills), the outstanding opening balance decreases.

If you want to view or update the opening balance you had entered:

  • Navigate to Sales in the left sidebar and select Customers, or go to Purchases and select Vendors.
  • Select the customer/vendor for whom you want to view or update the opening balance.
  • Click View Opening Balance below the Receivables section.
  • Enter the new opening balance and click Save.

Write Off Customer’s Opening Balance

You can also write off a customer’s opening balance from the customer’s Details page. Here’s how:

  • Go to Sales on the left sidebar and select Customers.

  • Select the customer for whom you want to write off the opening balance.

  • In the Details page, click View Opening Balance below the Receivables table.

  • In the Opening Balance pop-up, click Write Off next to the Outstanding Opening Balance amount.

    Write Off
  • In the Write Off Opening Balance pop-up, enter the Write Off Date and Reason for Write Off.

    Write Off Pop-up
  • Click Write Off.

The opening balance of the customer’s opening balance will be written off. To cancel the write off:

  • In the Details page, click View Opening Balance below the Receivables table.

  • In the Opening Balance pop-up, click Cancel Write Off next to the Outstanding Opening Balance amount.

    Cancel Write Off

To add opening balance for your customer for different branches: Here’s how:

  • Go to Sales on the left sidebar and select Customers.

  • Select the customer for whom you want to add an opening balance.

  • In the Details page, click View Opening Balance below the Receivables table.

  • In the Opening Balance pop-up, click Edit to add opening balances for your customer for other branches.

  • Click + Add Branch below the table to add opening balance for multiple branches.

    Add Branch
  • Click the dropdown and select the required Branch Name and enter the Opening Balance amount.

  • Click Save.

Similarly, you can record the opening balance for multiple branches.

To write off the customer’s opening balances for different branches:

  • In the Details page, click View Opening Balance below the Receivables table.

  • Click the More icon next to the respective outstanding balance amount, and select Write Off from the dropdown.

    Branch Write Off
  • In the Write Off Opening Balance pop-up, enter the Write Off Date and Reason for Write Off.

  • Click Write Off.

The opening balance of the customer’s opening balance for the respectivebranche will be written off. To cancel the write off:

  • In the Details page, click View Opening Balance below the Receivables table.

  • In the Opening Balance pop-up, click the More icon next to the respective branch and select Cancel Write Off.

    Cancel Branch Write Off

The write off will be canceled for the opening balance amount.


Next > Link Customer and Vendor

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