How to record outstanding receivables/payables
There are rules for entering these records that we recommend following:
when recording a document, use an already created business partner address;
record outstanding documents in the accounting period in which they were issued;
record documents in the currency in which they were issued; in the case of a foreign currency, use the original exchange rate of the document (important for correct revaluation and future settlement);
from a VAT perspective, record the document
in double-entry bookkeeping (both for VAT payers and non-payers) and in cash-basis accounting (for VAT non-payers), enter only the residual value with a zero VAT rate; exceptions apply to documents where input VAT has not yet been claimed;
in cash-basis accounting (for VAT payers), enter the outstanding base amount and the outstanding VAT amount, both at the applicable VAT rate.
Posting outstanding receivables/payables
As the offsetting account (when using double-entry bookkeeping), use the bridging account 395.xxx; for cash-basis accounting, use the applicable posting rule.
When dealing with a large number of documents, it is advisable to use Excel imports — users can handle this themselves, or the import can be performed using XML files.
Example for double-entry bookkeeping:
A company is switching to ABRA Flexi software as of 01/01/2025. On 31/10/2022, it issued an invoice for a total value of 1,000.00 € at a document exchange rate of 27.09 CZK/€. On 16/02/2023, a payment of 100.00 € was made at an exchange rate of 27.035 CZK/€, leaving an outstanding balance of 900.00 € as of 31/12/2024. The invoice will be entered for the year 2023 with the relevant date as a line-item-free document with a zero VAT rate, at a residual value of 800.00 €.
Example for cash-basis accounting:
A company is switching to ABRA Flexi software as of 01/01/2025. On 31/10/2022, it issued an invoice for a total value of 1,000.00 € (826.40 € base + 173.60 € VAT at 21%) at a document exchange rate of 27.09 CZK/€. On 16/02/2023, a payment of 100.00 € was made at an exchange rate of 27.035 CZK/€, leaving an outstanding balance of 900.00 € as of 31/12/2024. Due to the different method of recording payments in double-entry bookkeeping versus cash-basis accounting, the invoice will be entered for the year 2023 with the relevant date as a line-item-free document at the 21% VAT rate, specifically 826.40 € base + 73.60 € VAT at 21%.