Balance adjustments are intended to help you edit balances with your customers, suppliers and employees up-to-date without actually making financial transactions via cashboxes. Therefore, balance adjustments will not be displayed as cashbox payments, they do not affect the financial accounting and Dashboard reporting.
Balance adjustment is commonly needed in the following cases:
when there is an outstanding balance due to rounding
when you used to make payment settlements with a customer or supplier using a cashbox, which led to incorrect balance displayed in the client’s profile.
There are three ways of adjusting balances in Orderry.
Note: The ability to make balance adjustments is authorized by a specific role-based user access permission.
Adjusting balances manually
This one-size-fits-all mode of balance adjustment can be used on any occasion:
To drive a balance to zero after rounding
To settle a debt with a client without making any cashbox transactions
To set current balance with a supplier or employee when there have been no cashbox payments recorded so far.
Step One. From the client profile, go to the “Balances” tab and press “+ Balance adjustment”.
Step Two. Get a dialog window to enter the adjustment amount in the “Adjustment amount” field, then make a selection between “Payable” and “Receivable”.
When the client owes you, select “Payable” and enter the amount owed by the client to drive a balance to zero.
When you owe to the client, select “Receivable” and enter the amount you owe to the client to drive a balance to zero.
As a result, the amount in the “New balance value” box will be changed to zero.
Step Three. Don’t forget to put a relevant comment and press “Save”.
Done! A newly-created balance adjustment has been successfully logged and is now displayed along with the rest of the related transactions.
Mass Balance Adjustment via Client Export/Import
Use this method if after updating your Finances in Orderry you have a lot of debts on all clients and you want to make a zero balance for them in bulk.
Do the following:
Step 1. Click Export on the Clients page to download an Excel file to your PC.
Step 2. Open the downloaded file and make changes in the Balance column.
If there are no debts with the client, enter 0 (zero) in this column. If the client owes you, enter the amount of debt with a + (plus) sign. If you owe the client (supplier), enter the amount of debt with the sign - (minus).
Important: The Client ID column contains the unique identifier of the customer, which cannot be edited. If you change the value in this column, Orderry will not be able to recognize such a client during import and will create a duplicate.
Step 3. Load the updated file into the system using the Import button.
Reminder: one file should contain no more than 5000 lines.
When you specify a customer's balance this way, a balance adjustment is automatically created in the customer's profile on the Balance tab with the comment Import Balance Adjustment.
Adjusting balances via virtual cashboxes
Use this method to adjust balances with clients, suppliers, and employees if you have separate cashboxes to keep a record of mutual payments and settlements.
For example, you already have a cashbox showing a current balance with a supplier or customer. Having it negative means you owe to the client. And vice versa.
Please note, if you used the cashboxes for mutual settlements with employees, there will be the opposite value. That is, if the value in the employee's cashbox is negative, it means the employee owes you, and if the value is positive, you owe the employee.
Step One. From the supplier profile, go to the “Balances” tab and press “+ Balance adjustment”.
Step Two. Get a dialog window and select a corresponding cashbox used for payment settlements.
The “Adjustment amount” value will be automatically filled, in line with updating a new balance value according to related cashbox amounts.
For example:
In the case a given cashbox has -$5,000, you owe it to the client. Therefore, a new balance value will be set to -5,000.
In the case a given cashbox has $5,000, the client owes you. Therefore, a new balance value will be set to 5,000.
Note that for a client who is an employee, it works the other way around. If the employee had $2,000 in the cashbox, then you owe the employee $2,000, i.e. the cashbox balance will become -$2,000.
Note: Upon adjusting the balance, a related cashbox becomes virtual, meaning all its transactions also become virtual and do not apply to financial reporting.
Step Three. Don’t forget to put a relevant comment and press “Save”.
Done! You have successfully adjusted the balance using a virtual cashbox. The cashbox itself becomes virtual and can be deleted on the Finance > Payments page.
Note please that in order to delete a cashbox, there should be a zero balance. That is, you have to make an entry or an expense in the cashbox first to be able to zero out its balance.
How to delete balance adjustments?
You can always take a step back and delete balance adjustments. Follow these steps to remove a balance adjustment from the system:
Step One. From the client profile, go to the “Balances” tab.
Step Two. Double-click to select a balance adjustment you need to remove.
Step Three. Press delete button and confirm your action.
Nicely done! A selected balance adjustment has been successfully removed, and the client’s balance updated accordingly.