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Creating an opening balance or credit payment in Bookem

When you switch to Bookem, you might have clients who have prepaid for services or returned items, resulting in credit balances. You'll want to transfer these balances to Bookem without them appearing as duplicate payments in your accounting system.

Follow these steps to create an opening balance or credit:

1. Set up an 'opening balance' payment method to record transferred credit from your old system for each client. These balances can be either positive or negative.

2. To create an opening balance, go to Settings - Payments & Invoicing, then select Payment Methods at the top.

3. Next, click +Add a payment method and select "Other" under the Payment Type drop-down box. Now, name the payment method "Opening Balance" under the Payment Method Name.

4. Now, when you invoice your client, you can select 'Opening balance' as payment method to use as credit towards the amount due.