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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