Manually Enter Opening Balances

When you move to Brightpearl from another system you will need to transfer across all your current balances. You can do this using the data import or you can enter the figures manually.

Learn how to import account balances

Manually Enter Opening Balances

Before you can enter your figures manually you will need a trial balance to provide all your current balances.

A Typical Trial Balance

This is a very short Trial balance but gives an example of what is required.

Entering the Figures

You can enter all the figures using a single journal in Brightpearl. For each nominal code in your old system you will need a nominal code in Brightpearl. Before you begin you must note that your debtor and creditor balance MUST be posted to suspense accounts 9997 (Opening Debtors balance) and 9998 (Opening Creditors balance) because you will need to enter each individual invoice afterwards so that payments can be cleared against the respective customers and suppliers when the funds clear later. As you post each invoice this will gradually clear down the suspense accounts and build up the Debtors & Creditors Control accounts (1100 and 2100).

1. Go to Accounting > Enter journal.
2. Select the date as the first day of accounting in Brightpearl. Do not enter transactions into your old accounting system after this date.
3. Enter a note into the Details section as a memo that these are opening account balances.
4. For each balance on your trial balance make the following entries on a new line:
   • Account - select the nominal code
   • Debit/Credit - enter the balance of the account. Note that the sum of debits needs to equal the sum of credits for each nominal code and overall.
   • Tax code - select the appropriate tax code for the nominal code
5. Enter your debtors balance into nominal code 9997 (Opening Debtors balance).
6. Enter you creditors balance into nominal code 9998 (Opening Creditors balance).
7. When you have entered all the balances check that the journal debits = credits.
8. Click the Save journal button to post the figures.

Entering Your Debtors

For each outstanding customer invoice you will need to post a Quick Invoice. Before you do this you must have created all of your customer records in Brightpearl.

Learn more about creating customers

1. Go to Customers > Quick Invoice.
2. Search for the customer (you should import your contacts first).
3. Select the invoice date and due date.
4. Enter the invoice reference.
5. (Optional) Enter any further details.
6. Enter the Net Amount.
7. Select the correct Tax Code to calculate the Tax and Total values; check these are the same as the original invoice.
8. Select the nominal code 9997 (Opening Debtor Balance).
9. Click the Submit button.

Each invoice posted will create a journal to move the net invoice amount from the Debtor Suspense code (9997) to the Debtors Control code (1100). This will also post VAT (where applicable) to Sales VAT code (2200).

Entering Your Creditors

For each outstanding supplier invoice post a Bill. Before you do this you must have created all of your supplier records in Brightpearl.

Learn more about creating suppliers

1. Got to Suppliers > Enter a Bill.
2. Search for the supplier (you should import your contacts first).
3. Select the invoice date and due date.
4. Enter the invoice reference.
5. (Optional) Enter any further details.
6. Enter the Net Amount.
7. Select the correct Tax Code to calculate the Tax and Total values; check these are the same as the original invoice.
8. Select the nominal code 9998 (Opening Creditor Balance).
9. Click the Submit button.

Each invoice posted will create a journal to move the net invoice amount from the Creditor Suspense code (9998) to the Creditors Control code (2100) and post the VAT amount (where applicable) to Purchase VAT code (2201).

Correct the VAT Balances

Since the VAT balances would have been entered as part of the original trial balance, and a VAT figure is also created through the Quick Invoices/Bills, the VAT has been duplicated. However, the remaining balance in the suspense accounts is also that of the VAT! This can therefore can be matched to the duplicated VAT amount to leave your accounts completely balanced and correct.

You will need to find the balance of nominal codes 9997 (Debtors Opening balance) and 9998 (Opening Creditors balance). Go to Accounting > Chart of Accounts and find the balance for each of these accounts.

1. Go to Accounting > Enter Journal.
2. Leave the date as today's date.
3. Enter details to explain the reason for the journal.
4. On the first line select the nominal code 9997 (Opening Debtor balance) with a credit for the full amount left in the account.
5. On the second line select the nominal code 2200 (Sales VAT) with a debit for the same amount.
6. Use the tax code T9 for both lines.
7. Click the Save journal button.
8. Post a second journal with the first line using nominal code 9998 (Opening Creditor balance) with a debit for the full amount left in the account.
9. On the second line select the nominal code 2201 (Purchase VAT) with a credit for the same amount.
10. Use the tax code T9 for both lines.
11. Click the Save journal button.

You accounting should now be correct, leaving you ready to carry on business as usual!

The balance in nominal code 9997 (Opening Debtors balance) should now be zero. Check this on the Brightpearl Trial Balance, go to Reports > Trial Balance.