How can I manage previous contact balances?
  • 16 Dec 2022
  • Contributors

How can I manage previous contact balances?


Article Summary

Register amounts owed to you to keep track on them through elorus.

When moving to Elorus, you may need to transfer customer and supplier balances from previous transactions. One way to do this is to create all of your previous invoices and payments manually.

For instructions on the manual recording of previous invoices, refer to the related articles:

However, for brevity, you can follow the instructions below to record pending amounts from previous transactions.

Previous balances from customers (invoices and credit notes)

There are two possible scenarios: the customer owes you from unpaid invoices or your company owes a refund to them. The refund may be due to a return of goods, a pending credit note that has not been cashed out or overpayments made by your client (and exceed the amount due). The main concept is to create distinct entries from your regular sales documents (invoices and credit notes). To achieve this, you could create a new numbering sequence that “ties” your customers' previous balances.

- Create numbering sequences
The first step is to create a document numbering series in Elorus, which you'll use to record debit or credit customer balances.

From the Settings menu select "Numbering Sequences -> Add". In the "Short name" you can enter something indicative of the record, such as PB (previous balance) similar to the image below.
previous balance image

The designated document types for this numbering series could be:

  • Sales documents, such as "Invoice", in case you wish to keep track of the amount due from your clients, or

  • Credit documents, like the "Credit note", to record amounts you owe to your clients.

If there is a need for both types of documents, you simply 'Add' the series for each one, according to this article.

- The client owes your company

Once you create your sequence(s) you are ready to add invoices with previous balances to the contacts concerned.

Select "Invoices-> Add". After choosing the client from your list, you shall select "PB" in the numbering field (image below). Note, that, if you have more than one document type in the system, you need to make sure it is the same one you designated the numbering sequence PB to.
image160

Next, in the "Products/Services" table and the "Title" field, you may enter a generic description of the transaction, such as Previous balance.
image425

Then, you can enter the outstanding balance in the "Unit value", without applying any taxes from the respective field. Lastly, select "Save as issued" and press "Save" to finalize the document.

After completing these steps, the client's previous balance will be visible inside the contact's details and statement.

Paying off previous balance

The outstanding balance can be paid off manually from the document's display page and the "New payment" option, just like any other sales document. Also, the customer can pay this amount online through the client portal or by sending them the previous balance "document" via email. Refer to the related articles for more information:

- Your company owes to the client

In order to submit a credit balance you should, after creating the series mentioned above, create a credit note. Go to "...More->(Sales) Credit notes-> Add".
image74

Here, you will select the customer and then the "Credit note" in the "Document Type" field. In the "Number" field, select the "PB" series and proceed with completing the "Products / Services" table by typing something indicative of the transaction in "Title, such as Previous balance.

In the "Unit value" type the amount of the balance, without applying a VAT from the "Taxes" field.

See the example below:
image68

To finalize the record select Save as issued and click "Save". After completing these steps, the client's previous balance will be visible inside the contact's details and statement.

Outstanding balance pay-off

When your company pays off this amount you can register that transaction by making a "New payment" from the credit note's preview page, just like in the case of normal credit notes.

Note: You can use a different document type instead of a sequence. if you prefer it. This can be done in Settings-> Document types-> Add. You may use it following the steps above, with the difference that 'PB' will be selected from the document type field.

Previous balances from purchases (suppliers)

To capture suppliers' previous balances you simply need to manually create documents and enter a number indicative of the transaction. For example, you can use a "PB" (previous balance) prefix and type any number after that. There are two possible scenarios here as well; let's see each one in detail:

- Your company owes to the supplier

Go to "...More-> Bills-> Add" and select the supplier desired. In the "Number" field enter for example "PB-01" to distinguish it from other purchases. Then, in the "Product / Services" table type something generic, eg "Previous balance" in the "Title" and in the "Unit value" submit the amount due, without applying a VAT in the "taxes" field.
image510

image68

Next, select "Save as issued" and click "Save" to complete the registration process. After completing these steps, the supplier's previous balance will be visible inside the contact's details and statement.

Outstanding balance pay-off

When your company pays off this amount you can register this transaction by making a "New payment" from the invoice's preview page, just like in the case of normal purchase documents.

- The supplier owes your company

From "...More-> (Purchases) Supplier credit-> Add", select the supplier desired. In the "Number" field enter for example "PB-01" to distinguish it from other purchase credit notes.
image74

Then, in the "Product / Services" table type something generic, eg "Previous balance" in the "Title" and in the "Unit value" submit the amount due, without applying a VAT in the "taxes" field.
image61

Next, select "Save as issued" and click "Save" to complete the registration process. After completing these steps, the supplier's previous balance will be visible inside the contact's details and statement.

Outstanding balance pay-off

When your supplier pays off this amount you can register that transaction by making a "New payment" from the credit note's preview page, just like in the case of normal purchase credit notes.


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