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​How to Create Journal Entries for Opening Creditors in Metro Accounting System?

In Metro, opening creditors are recorded through journal entries when migrating accounting data from a previous system or setting up opening balances.

1) Go to the 'Accounting' module.


2) Go to 'Journal Entries'.



3) Click on the Create Button. 



4) Enter the Journal Entry Details:

  • Date: Set the opening balance date (e.g., start of the financial year).
  • Journal: Select Miscellaneous Journal or a custom Opening Balance Journal.
  • Reference: Enter a suitable reference like "Opening Creditors".

 

Add Journal Entry Lines:

  • Credit Side (Liability - Payable Account):

    • Account: Accounts Payable (Creditors) (e.g., 210000 - Account Payable)
    • Partner: Select the vendor (creditor).
    • Credit: Enter the amount due.

  • Debit Side (Balancing Account):

    • Account: Opening Balance Adjustment Account (or Expense/Asset Account if applicable).
    • Debit: Enter the same amount.


To get more details to create Journal Entries for Opening Creditors in Metro Accounting System, please do contact us at  support@metrogroup.solutions