Debtors are your account customers. You may have kept a card file, in which case entering your debtor details will be easy. If, on the other hand, they're all in your head you have a bit of work cut out for you. You will need to sit down and start writing down all you can remember. Write down everybody that currently owes you money (your debtors). Try to remember dates, even approximate, of when you sold them something they still owe you for - goods or services - and the cost. Write down their names, addresses, phone numbers, contacts - everything! This is your debtors list and you will be using this in the following section.
Each debtor must be given a code and the choice of code is up to you. It can be a name or numeric or a mixture of both. Our recommendation is a shortened version of their company name. This code is used to look at and maintain the debtors record, invoice and receive payments and report on the debtor.
You will need to enter all their details such as name, address and phone, as well as specific terms and discounts using Debtor Maintenance. Opening balances are entered using the Journal Entry option. Both of these are found in the Debtors Control Menu.
As this is covered very well in the Debtors Module section of this manual we won't repeat the information here. Refer to Add New Debtor for detailed information on adding debtors.
Again, this is covered well in the Debtors Module section. Refer to Entering Opening Balances for detailed instructions.