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Migration step 5: record accounts receivables


There are two methods for recording receivables from your previous accounting system. In method 1, before entering other opening balances, create invoices for each receivable balance due. In method 2, enter the total balance of all receivables in Flare's opening balance form. We recommend the first method as you'll have accurate reports, can track receivables by customer, and record payments against individual customer receivables.

Things you’ll need:

  • A list of receivable balances due from customers from your previous accounting system, including customer name, due date and balance due.

Method 1: Create invoices for each receivable's balance due

  1. In Flare's left menu, click Sales > Invoices (1, 2 below), then click the Create Invoice button (3). An invoice form will open.

  2. On the invoice, create a customer on the fly (1 below), enter a purchase order number if applicable, select an invoice date (same date as the unpaid invoice in your previous system), and terms (same terms as in your previous system). In the Items field, you can create a product/service on the fly (2). Then, enter a description, quantity and select a tax or create a tax on the fly if applicable (3).

  3. Click Save.

    Repeat these steps for each receivable.

    See Using Flare > Sales > Create an invoice for more detailed instructions.
 Benefit: by creating an invoice for each receivable, you'll have a detailed aging receivables record for each customer and will be able to apply payments customers make against invoices.

Method 2: Enter accounts receivable balance in Flare's opening balance form

Enter the total of all receivables into the Accounts Receivable field in Flare's opening balance form.

  1. Click the Settings gear icon in Flare’s top menu (1 below) and click Opening Balance in the Settings left menu (2)


  2. Enter debit and/or credit balances in the Accounts Receivable field (3 below).

  3. Click  Save
 Benefit: This method is much faster than creating an invoice for each receivable, but be aware that when using this shortcut, you'll have no record of aging receivables by customer and will not be able record payments customers make to individual invoices. Instead, payments will be recorded to the general Accounts Receivable category.
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