Here's how to enter money owed by your customers and to your suppliers at your FreeAgent start date, and how to explain it when it comes in.
You'll find your FreeAgent start date in 'Settings', 'Accounting Dates'.
Your FreeAgent start date is the date you choose to start using FreeAgent to keep your books and accounts – this could be the same day that you first signed up to FreeAgent or you could have set this to start using FreeAgent as from an earlier date.
Unless you're a new business, some of your customers might still owe you money from before your FreeAgent start date. You might also owe money to your suppliers, for bills you haven't yet paid.
Don't recreate any outstanding invoices in FreeAgent, instead:
How to record money you owed to other people when you started using FreeAgent:
When your customers pay you what they owed you as at your FreeAgent start date, explain those receipts with type 'Other Money In' and category 'Receipt from Initial Debtor'.
When you pay your suppliers what you owed them as at your FreeAgent start date, explain those payments with type 'Other Money Out' and category 'Payment to Initial Creditor'.
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