Adding Transactions before the Conversion Date

You can enter other transactions (such as invoices or purchase invoices), where the transaction date is earlier than the Conversion Date. For example, you may wish to enter a sales invoice or sales credit note that was issued from your previous accounting system, but is still oustanding after the Conversion Date. To do this:

• Ensure you have entered the appropriate VAT settings if you are VAT registered. You must carry out this step prior to entering the transactions which follow. This is especially important if you use the Cash Basis for VAT.
• Enter the sales invoice or sales credit note into AccountsPortal, making sure to use the original invoice date or credit note date (i.e. the date should be before the Conversion Date). Enter the line items as you would have in your previous accounting system taking special care to use the correct VAT Codes if you are VAT registered.
• Ensure that the Conversion Balance for the Accounts Receivable account includes the outstanding amount on the sales invoice or credit note at the Conversion Date.
• When you receive a payment on the above invoice (i.e. after the Conversion Date), proceed to capture the payment in AccountsPortal.
• Apply the same process for outstanding purchase invoices and purchase credit notes and ensure that the Conversion Balance for the Accounts Payable account includes the total of these outstanding transactions.

Note that with the exception of Conversion Balance transactions, any other transaction entered into AccountsPortal before the Conversion Date will not be taken into account for reporting purposes. The Aged Receivables and Aged Payables reports will, however, correctly reflect the ageing on all outstanding invoices or credit notes, including those entered before the Conversion Date.

Entering a transaction with a date before the Conversion Date displays a warning next to the date field