Dear @JessT
Thank you for your prompt reply.
Based on your solution appended please find corresponding replies
Accounts Receivable (A/R):
Accounts Receivable accumulates the open invoices, so all you can do is create a lumpsum invoice for each customer or put an Opening Balance (total collectibles) in their profiles. Both will work, but the difference is you can select items on a lumpsum invoice, and each item can have its own assigned income account. The third option is to import invoices from Excel, which I highly recommend because it will give you more detailed information about the transactions.
Unfortunately, the solution above does not work because:
1. Singapore's accounting basis is on an accrual basis
2. I will need the details of the respective AR invoices that remained o/s as at 31/12/21 such that when the customer pays in 2022, I am able to offset the invoice paid and the payment gets posted in Bank but this will not be viable if it was a lumpsum invoice
3. Some o/s invoices may date to prior to 1/1/21 and it would be recognized in the TB as Dr AR Cr Retained earnings instead of Revenue.
4. I tried to create a Pdt/Svc called opening balance and link it to the Accounts Receivable TB account such that if I were to create a detailed invoice# for SGD100
Dr AR-Subledger:Customer Card - SGD100
Cr AR - Main ledger
But I am unable to link it to the Accounts Receivable TB account.
Do you have any other suggestions
