Entering historical accounts receivable and accounts payable

Historical receivables and payables can be entered as outstanding invoices from a prior year if you are in the first fiscal year of the account.  

Ensure that your Customer is set-up under Customer in the Sales section on the navigation bar on the left.  If working on payables, it will be Suppliers in the Purchases section.

Select Chart of accounts from the navigation bar on the left and then select your Accounts Receivable account (or Accounts Payable account if working on payables).  Your customers will appear on the slide out bar on the right. 

Click on the customer and follow with the Add button. 

Select the account the receivable is affecting and the amount of the receivable.  Click the Save at the bottom.   Note, the dollar amount will be positive or negative depending on which type of account it is, as per the following chart.

The charge has now been posted and you can apply a payment to it in the current fiscal year.

Last updated on January 16, 2023 by FCC AgExpert