Continuing on with this week’s theme of opening balances, we’ve put up another article that deals with the common scenario where you might be entering opening balances for a fund and the lump sum payment exceeds the member’s actual opening balance.
To get around this, all you’ll need to do is:
- Add the lump sum payment amount to the members balance
- Record the lump sum payment as usual
- Edit the transaction in step 1 to be the member’s actual opening balance
Here’s the link for the help article with a worked example and more details:
Any questions, please feel free to ask below