This sound stupid but here goes, when I enter the opening balance for a customer it asks me for the NET amount, I am entering these amount indivually so for example customer 1 Invoice 1 November 7th 2012 £100, my question is what happens to the VAT for this invoice? I'm moving from a older system, this customer has not yet paid, how will VAT be accounted for?
Any replies would be greatly appreciated.!
Info: Sage 50 Professional 2012, new system is not live yet.