Party opening balance
Record what a customer owed you or what you owed a supplier on the day you started TiBook so outstanding reports match reality.
How this looks in TiBook
How to
- 1Open Add party or edit the party before you post many invoices.
- 2Find Opening balance and enter the amount still due on your start date.
- 3Choose whether the party owes you (customer debit) or you owe them (supplier credit) — follow the on-screen labels.
- 4Set the as-of date if the form asks — usually your migration date or financial year opening.
- 5Save. The balance appears on the party ledger and outstanding reports without creating a fake invoice.
- 6Collect or pay through normal Record payment in / payment out entries going forward.
Opening balance vs invoices
Use opening balance for old dues you are not re-entering as individual bills. New sales and purchases after start date should be real invoices so GST reports stay traceable.
Both roles
A party who is customer and supplier may need separate treatment — confirm with your accountant how to net receivable and payable on one card.
Match opening balances to your last Excel or Tally outstanding list before you trust the dashboard.
Wrong opening balance is the most common reason “outstanding” looks off in the first month.
Related articles
- Party ledger and PDFOn Party details, open Transactions for a dated ledger of every invoice and payment, then download PDF for the customer or your CA.
- Record a payment inLog money received from a customer — by cash, UPI, bank transfer, or cheque — and optionally settle open sales invoices in the same flow.
- Add a customer or supplierCreate a party with name, email, mobile, tax IDs, addresses, opening balance, and custom fields from the Parties screen.
Need more help?
Email, call, or WhatsApp the TiBook team. We can walk through invoicing, stock, POS, or your GST setup.
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