Opening balances and the contact ledger
Record what you already owed a supplier before you started using the system by entering an opening balance, then see it as the first line of the supplier's ledger.
In this video
- Enter an opening balance for a supplier or customer
- See how it appears in the contact ledger
- Understand what you owe and what is owed to you
Step by step
- Open Contacts and find the supplier or customer.
- Edit the contact and enter the opening balance: the amount still open on the day you start.
- Save, then check the balance in the list.
- Open the ledger and see the opening balance as its first line.
Why it matters
Your business did not start on the day you started the software. Debts that were already open, what you owe suppliers and what customers owe you, have to come with you. The opening balance carries them over, so every ledger and every balance is right from day one.
All Customers and suppliers videos
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2:08
Lesson 1
How to add a customer with a credit limit
Add an individual customer with contact details, a credit limit and payment terms, and find the new customer in the Customers list.
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2:23
Lesson 2
How to add a supplier
Add a supplier business with its VAT number, CR number and payment terms, and find it in the Suppliers list.
Get certified in Skyline Nexus ERP for 199 SAR or 49 USD
Show employers and clients that you can run daily sales, purchasing, stock and customer and supplier accounts in an ERP. Preparing for the exam improves your accounting practice: invoices, credit and debit notes, opening balances and ledgers, done the way real companies do them.
- An online exam on the four modules: products, contacts, sales and purchases
- Practice tasks on a demo company before the exam
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