Opening Payables are those amounts of money you are expecting to pay after conversion, where the Purchase was created before conversion. In order to allocate the payment in Dealerlogic Accounting, an Opening Payable entry must exist to apply the payment to. If the payment is entered as a new transaction such as a Cash Payment, the expense will have been accounted for twice and is incorrect.
Preferences, Opening Payables
From the Accounts Payable button the Opening Accounts Payable grid will open. Each expected payment must be entered separately. Use the New button to create each entry. The Purchase No allocated is the internal Dealerlogic journal number. Select the Vendor, and the date entered is not the original Purchase date, but rather the date at which this became an Opening Payable - the conversion date. Enter a Vendor Ref if required, when payment is due and the Total amount due. Adjust the Description if required and Process.
 Opening Payables Screen
 Opening Payables New Entry Screen
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Total Opening Payables and Discrepancy
All entered line items are totalled in the yellow bar and compared to the entered Opening Accounts Payable Balance. The difference is the discrepancy. If changes are made to Opening Payables, the Opening Balance of the linked Payables account must also be updated.
 Total Opening Payables & Discrepancy
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Edit or Delete an Opening Payable
Changes can be made to an Opening Payable item. If the changes relate to the amount, the Opening Balance of the linked Payables account must be updated. An Opening Payable can be Deleted if required, unless payments have already been applied. Note that as payments are applied to Opening Accounts Payable the Outstanding amount will be updated. Items remain in the list and are visible regardless of payment status.
 Edit or Delete an Opening Payable |
Update Opening Payables after Conversion
If further transactions are located after Conversion that should properly have been included in Opening Payables, they can be updated by simply adding the items to the list, and updating the Opening Balance of the linked Payables account. Open Accounts Payable from the Opening Balances button in the Accounting Setup Group of the Admin ribbon.
 To update Accounts Payable Opening Balances |