Opening GL, Sales Invoices, Supplier Invoices & Stock

Opening GL, Sales Invoices, Supplier Invoices & Stock

2.1.1 Opening GL, Sales Invoices, Supplier Invoices & Stock


As you have not started your business yesterday, you are already operating with balances in your accounts. These need to be brought forward to 

   system.

First you have to decide on a DATE to start using OCi system. E.g. 1st Apr 2015

Next, workout the Trial Balance from beginning of your financial year to 1st Apr 2015 i.e. from 1st Jan 2015 to 31st Mar 2015.




Location

Action

Remark




Setup 

 Adjustment>   Opening GL module

Click ADJUSTMENT activity

Click OPENING GL module

Click NEW

Enter in all the Trial Balance items EXCEPT for

Debtors, Creditors & Stock Accounts.





Location

Action

Remark




Setup Adjustment>

Opening Invoice 

  module

Click ADJUSTMENT activity

Click OPENING INVOICE module

Click NEW

Assuming if your Trial Balance indicate $50,000 of debtors, this means that you have this

amount of Sales Invoices that your customer have yet paid you as at 31st Mar 2015.


You have to enter them in Opening Invoice as it can them capture which Invoice No., Date, Customer and Amount.


Note that total Opening Invoices must add up to

debtor’s $50,000 value.




Location

Action

Remark




Setup Adjustment>

Opening Supplier 

  Invoice module

Click ADJUSTMENT activity

Click OPENING SUPPLIER INVOICE

      module

Click NEW

Assuming if your Trial Balance indicate $30,000 of

creditors, this means that you have this amount of

Supplier Invoices that you have yet paid them as at

31st Mar 2015.


You have to enter them in Opening Supplier Invoice as it can capture them which Supplier Invoice No., Date, Customer and Amount.


Note that total Opening Supplier Invoices must add up to creditor’s $30,000 value.




Location

Action

Remark




Setup Adjustment>

Opening Stock module

Click ADJUSTMENT activity

Click OPENING STOCK module

Click NEW

Assuming if your Trial Balance indicates

$10,000 of stocks, you have to enter them in

Opening Stock.

This is to capture the stock items code,

quantity, unit price.


Note that total Opening Stock must add up to

$10,000 stock value.





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