FAQ > Managing Vendors

How is a Vendor’s Opening Balance Recorded?

The property manager records a vendor opening balance in SimplifyEm.com Property Management Software if they owe some pending balance to vendors from their last expense transaction. Here are the steps to record vendor opening balance:

1. Go to the vendor center by clicking on the ‘Vendors’ tab at the top of the page.

2. Hover over ‘Take Actions’ for the corresponding vendor’s row and click ‘Record Vendor Opening Balance’ from the dropdown list.

3. Record vendor opening balance popup appears.

4. Enter the vendor opening balance amount in the amount field and select the date to record the vendor opening balance.

5. Click the ‘Save’ button.

6. Vendor opening balance has been recorded on the vendor balance history page for the corresponding month.