Opening Balances are generally imported before the first bill run (when they are actually the Opening Balance) but can be done at any time later, with the understanding that it is now a Current Balance that they are importing.

Importing your opening balances

You can import opening balances by creating a 2 column file on a csv file, Column A must be the Account ID and Column B must be the CURRENT BALANCE in your accounting software with a header row required

Then in Operate select Import Opening Balances in the accounts receivable module (Invoicing>Accounts Receivable)

You will then be presented with the following screen where you can choose the location you would like to import the balances (1) for and then select the file you wish to upload (2)

Things to consider when importing your opening balances

Please note you need to be aware of that the following will happen:

  • Example, I have a balance of £100 in Operate, but in my accounting software my balance is £200 as of today, from a previous invoice of £100 that is still outstanding.
  • I must import an opening balance of £200.

In Operate this will post 2 journal lines on my Sales Ledger:

  • The 1st line will be Clear Balance and it will credit the £100 outstanding in Operate making the balance of the account £0.
  • Then the 2nd line will post the Opening Balance of £200 making my current balance now £200 debit.

When I run a statement of account for outstanding items, the statement will show the Opening Balance line of £200, it will not have reference to any invoices because there are none outstanding in Operate anymore (as only the Journal Debit line for the Opening Balance is outstanding).

The Opening Balance lines will post with the date that they are imported.

Please note: If an account has a credit balance, this will need to be allocated to an invoice later on in order for the existing amount to be considered as payment for that invoice. The imported balance will be added as a payment within the Accounts Receivable (as shown bwlow) and you can allocate it to an invoice by following this guide: Allocating Existing Payments to Invoices in Operate's Accounts Receivable

Troubleshooting

If you import the file and the balances do not update this could be for a number of reasons - commonly it will be because - 

  • The import file has not been saved as a Comma Separated Spreadsheet (.csv)
  • The import file is missing a header row and so the first accounts balance has not been updated.
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