Record an unpaid expenditure in the opening balances
- Enter the supplier's expenditure
Enter the expenditure of the concerned supplier as of the first day of the fiscal year (e.g. : January 1)
For more details, please refer to the procedure linked at the bottom of the page regarding the posting of an expenditure
The accounting entry which will appear in your General Ledger will be as this one:
Dt Ct
2100 – Supplier to be paid $500
5050 - Maintenance and repair $500
- Enter the expenditure in the opening balances
Credit $500 in the account 5050 - Maintenance and repair
This indicates to the system that the $500 that you are going to pay will not be accounted for in this fiscal year, but the previous one.
To balance the accounting entry, you will have to also add the amount to the Debit in the supplier's account 2100.
NOTE: To get more details on how to record an element in the opening balances, please refer to the procedure on the entry of the first opening balances linked at the bottom of the page. - Make the payment
For more details on the steps to follow, please refer to the procedure linked at the bottom of the page.
The accounting entry to be recorded in your general ledger will be as follows:
Dt Ct
2100 – Supplier to be paid $500
1060 – Current account $500
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Mots clés::
enter
,
unpaid
,
expenditure
,
opening
,
balances