ANSWER ID:36382

As part of the initial setup of your company file, you need to enter supplier opening balances and historical purchases. This will enable you to enter supplier payments against purchases that were made prior to the time you began to use your MYOB software. The date you began using your software is known as the conversion date, and historical purchases you made for which you are yet to make payment are known as pre-conversion purchases.

This support note explains how to enter your suppliers' opening balances and pre-conversion purchases into your software.

You may also be interested in the following related support notes:

Entering customer opening balances and historical sales- see this support note if you have pre-conversion sales.

Entering pre-conversion deposits- see this support note if you have pre-conversion deposits (payments made to you from customers, or payments made by you to suppliers)

[Australia only]

Note: Historical purchases will not generate BASlink figures, so your BAS must be done manually for these periods.

[New Zealand only]

Note: Historical purchases will not generate GST Return figures, so your GST Return must be done manually for these periods.

Enter the opening balance of your Trade Creditors account

This account represents the amount owed by you to your suppliers.

To do this:

1. Go to the Setup menu and choose Balances then choose Account Opening Balances. The Account Opening Balances window is displayed.
2. Locate the Trade Creditors account, then in the Opening Balance column enter the sum total of what you owe your suppliers as at the time you began to keep your records using MYOB software. See our example below.
   
3. Click OK.

Enter previous purchases

Entering the purchases you made prior to using your MYOB software which you are yet to pay for. In other words your pre-conversion purchases. This will allow you to record payments you subsequently make against these purchases.

To do this:

1. Go to the Setup menu and choose Balances then choose Supplier Balances. The Supplier Balances window is displayed. Notice there is an Out of Balance Amount as you need to enter your suppliers' historical purchases to match the value of your Trade Creditors account.
   
2. Click Add Pre-Conversion Purchase (or Add Purchase in some versions). The Pre-Conversion Purchase window is displayed (or Historical Purchase window in some versions).
3. Select the applicable supplier and enter the details of the pre-conversion purchase. See our example below.
   

   [Australia only]

   

   [New Zealand only]

   
4. Click Record.

[Australia only]

1. Click OK to the alert regarding cash reporting.
   
2. Repeat steps 2 - 5 for all your pre-conversion purchases. Note: You need to enter historical purchases for all suppliers that had pre-conversion purchases which were still unpaid as at the time you began to use your MYOB software.
3. When the total of your outstanding bills equals the balance of your Trade Creditors account, you're done! See our example below.
   

[New Zealand only]

1. Repeat steps 2 - 4 for all your pre-conversion purchases. Note: You need to enter historical purchases for all suppliers that had pre-conversion purchases which were still unpaid as at the time you began to use your MYOB software.
2. When the total of your outstanding bills equals the balance of your Trade Creditors account, you're done! See our example below.