How to Enter Opening Balances - Standard VAT
|
|
- Tobias Hood
- 5 years ago
- Views:
Transcription
1 How to Enter Opening Balances - Standard VAT Opening balances represent the financial position of your organisation on the day you start using Sage Accounts. Whatever date you choose, you are likely to have opening balances, whether your organisation is just starting up, or you are changing over from another accounting system. Without accurate opening balances the financial statements produced by Sage Accounts will not give a true picture of your financial position. Opening balances consist of information such as: Outstanding customer transactions. Outstanding supplier transactions. Nominal Ledger Trial Balance figures. Sage 50 Accounts and Sage Instant Accounts Plus - Product Record opening balances. Note: This article only applies if you are using the Standard VAT scheme. For further information about entering opening balances when you use the VAT Cash Accounting scheme, please contact Sage Support. If you are entering your opening balances using a date part way through your financial year, please contact Sage Support for an article relevant to this scenario. This article contains the following sections: To enter your customer or supplier opening balances - The customer and supplier opening balances can either be entered as lump sum balances, or as individual outstanding invoices and credits, which make it easier for you to match receipts later. To check the customer and supplier opening balances - Once you have entered your customer and supplier opening balances, before proceeding with this article, you should check that you have entered the correct values. To print the Trial Balance report - The Trial Balance report shows the balances of the postings made when you saved the customers' and suppliers' opening balances. This report is used when clearing the balances from the Debtors Control Account, Creditors Control Account and the Suspense nominal code. To clear the opening balances from the trial balance - After entering the customer and supplier opening balances, you should clear the values from the Debtors Control Account, Creditors Control Account and the Suspense nominal code. If you do not clear these balances, the values are duplicated when you post the nominal opening balances and your Balance Sheet report will be incorrect.
2 To enter the nominal and bank opening balances - You need to enter an opening balance for each nominal code and bank account that appears on your trial balance, including the Debtors Control Account, Creditors Control Account, Sales Tax Control Account, Purchases Tax Control Account and your bank accounts. When you post a nominal or bank opening balance using the opening balance option, Sage Accounts automatically post the opposite entry to the Suspense nominal code, 9998 by default. Note: If you are entering your opening balances at the start of your financial year, the trial balance should only consist of balance sheet values, for example, assets, liabilities and capital and reserves. To enter the bank opening balances through the Bank Record - You may want to use the Bank module rather than the Nominal module to enter the opening balances on your bank accounts. To check the nominal and bank opening balances - Once you have entered your nominal and bank opening balances, before proceeding with this article, you should check that you have entered the correct values. To check and back up your data - Once you have completed the opening balance procedures, you should check and back up your data.
3 To enter your customer or supplier opening balances Note: This procedure details entering customer opening balances, if you want to enter supplier opening balances, please replace customer with supplier as appropriate. 1. Open the Customers module, from the Links pane select Customer List then select the required customer account. Sage Accounts v11 and below - Open the Customers module then from the customer list, select the required customer account. The selected customer account is highlighted. 2. From the Customers toolbar, click Record, within the Balance box click O/B, then enter the relevant information to record the customer's opening balance, for example: Ref Date Type Gross Enter the reference for the opening balance, for example, O/BAL Enter either the set up date or the date of the original invoice or credit. From the drop-down list, choose the type of opening balance you want to enter, for example, either invoice or credit. Enter the full outstanding amount of the transaction here. Note: The date used must always be in the previous accounting period. For example, if you are entering your opening balances for financial year commencing January 2010, the opening balances must be dated December 2009 or earlier E.g. 31 December 2009 If required, to make another entry, press ENTER, then add the required information onto the next line. 3. To save the opening balance information, click Save. The opening balance transactions save and the Customer Record appears. 4. To close the Customer Record and return to the Customers window, click Close. Repeat this procedure for any other customers who have opening balances to be entered. Then follow this process again to add your Supplier opening balances.
4 You have now entered your customer and supplier opening balances. You should now refer to the following section to check that you have entered the correct opening balances. To check the customer and supplier opening balances Note: This procedure details checking the customer opening balances, if you want to check the supplier opening balances, please replace customer with supplier, and debtors with creditors. 1. Open the Customers module, from the Links pane select Reports then open the Aged Debtors reports folder. Sage Accounts v11 and below - Open the Customers module, click Reports then open the Aged Debtors reports. The aged debtors reports appear. 2. From the list of reports, print the Aged Debtors Analysis Detailed report. Use this report to check that you have entered the correct customer opening balances, and if necessary, amend any entries before proceeding. Now check your supplier opening balances by repeating the process and printing the Aged Creditors Analysis Detailed report from the Suppliers Reports window. You have now checked your customer and supplier opening balances. To print the Trial Balance report 1. Open the Company module, from the Links pane select Financials then click Trial. Sage Accounts v11 and below - Open the Financials module then click Trial. The Print Output window appears. 2. Select the required output, for example, Printer then click Run. The Criteria window appears. 3. From the Period drop-down list, choose the required Trial Balance period, for example, Brought Forward. If you selected the Printer Output, the Print window appears. 4. Complete the Print window as required then to print the Trial Balance report, click OK.
5 You have now printed your Trial Balance report, the information from this report is used in the following section. To clear the opening balances from the trial balance Note: In this example, the following balances are to be cleared from the trial balance. N/C Name Debit Credit 1100 Debtors Control Account Creditors Control Account Suspense Account Total Open the Company module then from the Tasks pane select New Journal. Sage Accounts v11 and below - Open the Nominal Ledger then click Journals. The Nominal Ledger Journals window appears. 2. Enter a reference and date for the journal, then enter the relevant information to reverse the trial balance figures, for example: N/C Details T/C Debit Credit 1100 Reverse O/Bal T Reverse O/Bal T Reverse O/Bal T Note: The date must be in the same accounting period as the customers and suppliers opening balances. For example, if you are entering your opening balances for financial year commencing January 2010, the opening balances are dated December 2009 or earlier and this journal should be dated 31 December To save the journal, click Save. The journal posts and the Nominal Ledger Journals window clears. 5. To close the Nominal Ledger Journals window and return to the Nominal Ledger window, click Close.
6 You have now cleared the balances from the trial balance, and are ready to enter the nominal and bank opening balances. For further information about this, please refer to the following sections. To enter the nominal and bank opening balances Note: The bank opening balances can be entered either via the Bank Record or the Nominal Record. Follow this procedure to post your bank opening balance via the Nominal Record. To enter the bank opening balances via the Bank Record, please refer to the following section To enter the bank opening balances through the Bank Record. If your bank opening balance consists of both reconciled and unreconciled amounts, please contact Sage Support for further assistance. 1. Open the Company module, from the Links pane select Nominal Ledger then select the required nominal code. Sage Accounts v11 and below - Open the Nominal Ledger module then select the required nominal code. The selected nominal code is highlighted. 2. From the Nominal Ledger toolbar, click Record, click O/B then enter the opening balance information into the Opening Balance Setup window, for example: Note: The O/B button is part of the Balance box. Ref Date Debit Credit Enter a reference. This appears on the audit trail and helps you to identify the transaction. O/BAL is entered by default but can be amended. Enter the date. This should be the last day of your previous accounting period. If the trial balance figure is a debit value, enter the amount here. If the trial balance figure is a credit value, enter the amount here. Tip: Debit balances usually include, fixed assets, bank accounts that are not overdrawn, purchases and overhead accounts such as electricity charges. Credit balances usually include, loans, overdrawn bank accounts and income accounts such as sales. 3. To save the opening balance, click Save. The opening balance is saved and the Nominal Record appears. 4. To close the Nominal Record and return to the Nominal Ledger window, click Close.
7 Repeat this process until you have entered all of your Nominal Ledger opening balances. You have now entered the nominal opening balances, if you have also entered the bank opening balances, then please proceed to the section To check the nominal and bank opening balance later in this article. To enter the bank opening balances through the Bank Record Note: If you have already entered your bank opening balances through the Nominal Record, you must not enter them again using this procedure, but proceed to the following section To check the nominal and bank opening balances. If your bank opening balance consists of both reconciled and unreconciled amounts, please refer contact Sage Support. 1. Open the Bank module, select the bank account for which you want to enter an opening balance then click Record. The Bank Record appears. 2. From the Bank Record, click O/B then enter the opening balance information into the Opening Balance Setup window, for example: Note: The O/B button is part of the Current Balance box. Ref Date Receipt Payment Enter a reference. This appears on the audit trail and helps you to identify the transaction. O/BAL is entered by default, but can be amended. Enter the date. This should be the last day of your previous accounting period. If you have money in this account this is a debit balance, and should be entered here. If you are overdrawn in your bank account, this is a credit balance, and should be entered here. 3. To save the opening balance, click Save. The opening balance is saved and the Bank Record appears. 4. To close the Bank Record and return to the Bank Accounts window, click Close. Repeat this process until you have entered all of your bank opening balances. You have now entered the bank opening balances, should now proceed to the following section.
8 To check the nominal and bank opening balances 1. Open the Company module, from the Links pane select Financials then click Trial. Sage Accounts v11 and below - Open the Financials module then click Trial. The Print Output window appears. 2. Select the required output, for example, Printer then click Run. The Criteria window appears. 3. From the Period drop-down list, choose the required Trial Balance period, for example, Brought Forward. If you selected the Printer output, the Print window appears. 4. Complete the Print window as required then to print the Trial Balance report, click OK. Use the figures from this trial balance to check that you have posted all your nominal and bank opening balances. You should also ensure that the Suspense nominal code balance is zero. If it is not, print the Nominal Activity report and check for the following: All nominal opening balances from your trial balance have been entered. None of the opening balances have been entered twice. Balances have not been entered as debits when they should be credits, and vice versa. You have now entered your customer, supplier, nominal and bank opening balances. You should now check and back up your data as detailed in the following section.
9 To check and back up your data Run the Check Data option to check the validity of your data files. This option should always be run before taking a backup of your data. For further information about this, contact Sage Support. After checking your data, you should take and keep at least one backup of your data files. This ensures that in the future you can restore back to this point. You may want to do this to check the values or details of your opening balances. You have now completed the opening balance procedure, and can start entering transactions into Sage Accounts. Author: Sage 50 Support Team Product & Version: Instant V15, V16. Sage 50 V2009, V2010, V2011 Revision Date: Aug 2010 Publication Number: 11232
How to Run The Month End
How to Run The Month End Sage Accounts has been designed to make your month end procedure as smooth and trouble free as possible. The Month End routine is an optional procedure which groups together routines
More informationSage Accounting A Step by Step Guide
Sage Accounting A Step by Step Guide Integra Accounting Limited Chartered Certified Accountants 5 Station Road Hinckley Leicestershire LE10 1AW Tel: 01455 238551 Email: enquiries@integra-accounting.co.uk
More informationCHAPTER 8: PERIOD-END PROCEDURES
Chapter 8: Period-End Procedures CHAPTER 8: PERIOD-END PROCEDURES Training Objectives Actively participating in this chapter helps you: Understand the procedures that are completed at the end of an accounting
More informationScript Reference. Complete the monthly REC1 Description & Objectives
Title Complete the monthly REC1 Description & Objectives Script Reference FMS REC1 Schools are required to complete the monthly REC1 to reconcile bank statements and FMS. Script Name Date Comments Created
More informationEnhanced General Ledger Quick Steps version 8.016
Enhanced General Ledger Quick Steps version 8.016 The General Ledger module is designed to handle journal entries for various transactions that are not accounted for in other modules (A/P, Payroll etc.).
More informationHCSS Accounting. User Manual. Journals and Corrections
HCSS Accounting User Manual Journals and Corrections Contents 1 Journals... 3 a View Journals... 3 b Cash Book Journal (including Balance Sheet Codes)... 5 c VAT Reimbursement... 7 d VAT Payment... 8 e
More informationLivestock Office Native Accounting
Livestock Office Native Accounting 12/04/2017 Contents Native Accounting... 2 General Ledger... 3 G/L Codes... 3 G/L Code Budgets... 4 G/L Tree... 5 G/L Journals... 6 Bank Accounts... 7 Bank Statements...
More informationTalking Sage 200. talkingsage200.wordpress.com Sage 200 Period End Routines
Talking Sage 200 talkingsage200.wordpress.com Twitter: @talkingsage200 Sage 200 Period End Routines Contents Pre-period end tasks... 4 Close an Accounting Period... 5 3 talkingsage200.wordpress.com Pre-period
More informationExact Globe Next Cash Flow. User Guide
Exact Globe Next Cash Flow User Guide Exact Globe Next Cash Flow Despite the continued efforts of Exact to ensure that the information in this document is as complete and up-to-date as possible, Exact
More informationSage Bank Services User's Guide. May 2017
Sage 300 2018 Bank Services User's Guide May 2017 This is a publication of Sage Software, Inc. 2017 The Sage Group plc or its licensors. All rights reserved. Sage, Sage logos, and Sage product and service
More informationAccounting with MYOB Accounting Plus v18. Chapter Four Accounts Payable
Accounting with MYOB Accounting Plus v18 Chapter Four Accounts Payable Recording a Purchase Important Points A Purchase is obtaining goods for re-sale. Purchases are obtained from Suppliers. Amounts owed
More informationPCSchool Reconciling your Debtors. Table of Contents
Reconciling Debtors Table of Contents Are you Accrual or Cash?... 2 Setting up the Reconciliation Report Alias... 2 Printing the Debtors Reconciliation Report... 3 Example of Debtors Reconciliation Report:...
More informationSage Bank Services User's Guide
Sage 300 2017 Bank Services User's Guide This is a publication of Sage Software, Inc. Copyright 2016. Sage Software, Inc. All rights reserved. Sage, the Sage logos, and the Sage product and service names
More informationChapter 6. Company Tasks. In this chapter:
Chapter 6 Company Tasks This chapter covers the tasks contained within Sage 50 Accounts Company module. The chapter introduces the topics of prepayments, accruals, budgeting, fixed asset handling and VAT
More informationMake sure the client aged receivables balance to the general ledger total. Write off client balances. Pick a date that makes sense: a. b. c. d.
Overview This document provides conversion tips and instructions for entering client and general ledger beginning balances Entering beginning balances in Nexsure entails bringing balances forward from
More informationLesson 2: Banking and Credit Cards
Sage 50 Premium Accounting 2016 Level 2 Lesson 2: Banking and Credit Cards Lesson Objectives In this lesson, you will learn how to set up and use the bank reconciliation feature in Sage 50 Accounting.
More informationChanging the General Ledger Fiscal Year End
Changing the General Ledger Fiscal Year End (while retaining journal detail) Note: This document provides instructions to change the fiscal year end and import journal detail for the current fiscal year.
More informationMYOB Support Note. Receivables Reconciliation
MYOB Support Note Receivables Reconciliation Receivables Reconciliation This support notes are suitable for: MYOB Accounting MYOB Premier MYOB BusinessBasics Run the Receivables exception report found
More informationRelease Notes for Sage UBS
Release Notes for Sage UBS Content This release notes covers two sections: 1. Progressive Enhancement (if any) 2. Issues that have been addressed Version 9.9.3.1 Release date: 07 th October 2016 Progressive
More informationLearning Series. Sample Document. Learning. MYOB AccountRight Standard By Cheryl Price. Easy to follow Step-by-step instructions
Learning Series Learning MYOB AccountRight Standard 2011.1 Easy to follow Step-by-step instructions An excellent reference resource By Cheryl Price Learning MYOB AccountRight Standard 2011.1 This book
More informationMicrosoft Dynamics GP. Electronic Bank Management
Microsoft Dynamics GP Electronic Bank Management Copyright Copyright 2010 Microsoft. All rights reserved. Limitation of liability This document is provided as-is. Information and views expressed in this
More informationTRIUMPH END OF MONTH PROCEDURES
How do I complete my end of month processing in Triumph? TRIUMPH END OF MONTH PROCEDURES DEBTORS After all invoices and receipts for the month have been entered and a backup has been completed, print the
More informationSage (UK) Limited Copyright Statement
Sage (UK) Limited Copyright Statement Sage (UK) Limited, 2011. All rights reserved We have written this guide to help you to use the software it relates to. We hope it will be read by and helpful to lots
More informationUnderstanding Tax Codes in Simply Accounting
Understanding Tax Codes in Simply Accounting www.prismbusinesstraining.com Understanding the Taxes and Tax Codes The tax code settings in Simply Accounting are found in the Setup menu on Simply s home
More informationVisionVPM General Ledger Module User Guide
VisionVPM General Ledger Module User Guide Version 1.0 VisionVPM user documentation is continually being developed. For the most up-to-date documentation please visit the VisionVPM website at www.visionvpm.com
More informationSage 50 Accounts Credit Control
Sage 50 Accounts Credit Control Sage (UK) Limited Copyright Statement Sage (UK) Limited, 2008. All rights reserved If this documentation includes advice or information relating to any matter other than
More informationMYOB Support Note. Payables Reconciliation
MYOB Support Note Payables Reconciliation Payables Reconciliation This support notes are suitable for: MYOB Accounting MYOB Premier MYOB BusinessBasics MYOB AccountEdge Run the Payables Exception report
More informationWelcome to the period end closing topic.
Welcome to the period end closing topic. 1 In this course we will discuss how to prepare for and perform period-end closing. 2 Imagine that your company creates an annual financial statement once a year.
More informationSage Tax Services User's Guide
Sage 300 2017 Tax Services User's Guide This is a publication of Sage Software, Inc. Copyright 2016. Sage Software, Inc. All rights reserved. Sage, the Sage logos, and the Sage product and service names
More informationES ACCOUNTING Malaysia GST GUIDE
Malaysia GST GUIDE Version 5.0.7 Malaysia GST Ready Page 1 CONTENTS PAGE 3 4 5 6 7 8 8 8 9 11 12 13 14 15 15 1. Tax Schedule Maintenance 2. Maintain Tax Code 3. Tax Code Listing 4. GST Control Account
More informationChapter Three Setting up General Ledger
How to Restore Your Back up File: Chapter Three Setting up General Ledger Click File - Click Restore - Click Browse - Select Drive - Select Folder - Select the File - Click Open - Click Next - Tick New
More informationCashflow Management & Forecasting Module
Cashflow Management & Forecasting Module Introduction The careful management of your cashflow is fundamental to managing your business, especially in these more difficult economic times. Depending on your
More informationExpedient User Manual Banking Module
Volume 5 Expedient User Manual Banking Module Gavin Millman & Associates (Aust) Pty Ltd 281 Buckley Street Essendon VIC 3040 Phone 03 9331 3944 Web www.expedientsoftware.com.au Table of Contents Debtor
More informationACS YEAR-END FREQUENTLY ASKED QUESTIONS. General Ledger
ACS YEAR-END FREQUENTLY ASKED QUESTIONS This document includes answers to frequently asked questions about the following ACS modules: General Ledger Payroll Accounts Payable Accounts Receivable General
More informationMYOB EXO Business. EOFY Good Practice
MYOB EXO Business EXO Training EOFY Good Practice Momentum Software Solutions support@momentumss.com.au Momentum provide Support for all MYOB EXO Business and Employer Services modules Suite 22, Ocean
More informationMicrosoft Dynamics GP Payable Management. Series GP 2018
Microsoft Dynamics GP Payable Management Series GP 2018 Contents Course Objectives 7 Payables Management Setup 11 1.1 Payables Management Setup 15 1.2 Payables Setup Options 21 1.3 Creditor Class Maintenance
More informationLesson Thirteen Using General Journal and Banking Tasks
Lesson Thirteen Using General Journal and Banking Tasks The General Ledger is updated by each journal in Sage 50 as transactions are posted. The General Journal Entry task can be used to affect accounts
More informationReturn of Trading Details
Return of Trading Details In previous versions of Sage 50 Accounts, the VAT Detailed report was the best report that could be used to get the necessary figures to fill in the Return of Trading Details
More informationSage UBS Accounting Sample Report. Sage UBS Accounting. Sample Report 1.0. VIVID SOLUTIONS SDN BHD
Sage UBS Accounting Sample Report 1.0 www.vivid.com.my 1 Contents Chapter 1: Debtors... 6 1.1: Chart of Account... 6 1.2: Tax Code Maintenance... 6 1.3: Debtors Listing... 7 1.4: Print Labels... 7 1.5:
More informationCredit Control Administrators Guide DOCUMENTATION. Phone: Fax:
Credit Control Administrators Guide DOCUMENTATION Phone: 01981 590410 Fax: 01981 590411 E-mail: information@praceng.com CHANGE HISTORY ORIGINAL DOCUMENT AUTHOR: MICHELLE HARRIS DATE: OCT 2013 AUTHOR DATE
More informationMYOB EXO Payroll EOFY Good Practice Guide
MYOB EXO Payroll 2015 EOFY Good Practice Guide Momentum Software Solutions support@momentumss.com.au Momentum provide Support for all MYOB EXO Business and Employer Services modules Level 5, Ocean Central,
More informationProcedures & Tips and Tricks For End of Year Process
Procedures & Tips and Tricks For End of Year Process Creating New Fiscal Period When the End of Year process is run the EbixASP program will automatically create the new fiscal period (if you have not
More informationEntity Codes User Guide
Entity Codes User Guide Created in version 2009.4.0.153 1/16 Table of Contents Entity Codes... 2 Overview... 3 Create a New Entity... 4 Set up Periods... 5 Ledger End of Period... 6 Backup... 6 Print Reports...
More informationPEACHTREE COMPLETE 2009 WORKSHOP 4 PETE S MARKET
PEACHTREE COMPLETE 2009 WORKSHOP 4 PETE S MARKET Mini Practice Set Completing First Quarter Payroll for Pete s Market This workshop adds to Peachtree skills learned in Workshops 1 through 3 so complete
More informationAttaché Payroll 2017/18. End of Year Procedures
Attaché Payroll 2017/18 End of Year Procedures Table of Contents Which Version of Attaché Do I Need to Process End of Year?... 4 Checking that All Operators have Exited Attaché... 5 Blocking Access to
More informationMicrosoft Dynamics GP2013 Year-End Closing Questions and Answers
Microsoft Dynamics GP2013 Year-End Closing Questions and Answers Table of Contents Year End Questions - General... 2 Receivables Management... 3 Payables Management... 4 Inventory Control... 5 Fixed Asset
More informationMYOB Exo Business. EOFY Good Practice Guide
MYOB Exo Business EOFY Good Practice Guide Momentum Software Solutions support@momentumss.com.au Momentum provide Support for all MYOB EXO Business and Employer Services modules Level 5, Ocean Central,
More informationSoftware Upgrade GST Standard-Rated 6% to 0%
Software Upgrade GST Standard-Rated 6% to 0% [Optimum] [1.0] Roseanne Lee [24/5/2018] Doc No : 1 Page No: 1 of 10 REV. No Nature of Change Prepared By Prepared Date Reviewed & Approved by 1.0 Article Created
More informationUser Guide. for Accounting
User Guide for Accounting 1 Table of Contents Introduction... 3 a8 Global Settings... 7 Work Period... 7 Chart of Accounts... 8 Cash Books... 9 a3 GL Transactions... 9 a6 Batch Posting... 13 i1 Item Master...
More informationPalladium Company Setup Guide
Palladium Company Setup Guide This document will assist you in setting-up your Palladium Company prior to processing transactions. Contents Setting Up Linked Accounts... 2 Purpose of Linked Accounts...
More informationAccounting with MYOB v18. Chapter Three Cash Accounting
Accounting with MYOB v18 Chapter Three Cash Accounting Cash Accounting Activities 1. Receive and pay money using Banking. 2. Create and use Recurring Templates. 3. Combine receipts for banking. 4. Identify
More informationIAB LEVEL 2 CERTIFICATE IN APPLIED BOOKKEEPING (QCF)
IAB LEVEL 2 CERTIFICATE IN APPLIED BOOKKEEPING (QCF) Qualification Accreditation Number 500/9262/5 (Accreditation end date 31 st December 2012) CONTENTS QUALIFICATION SPECIFICATION 1. Introduction 2. Aims
More informationFMS6 User Guide Year End for Academies
FMS6 User Guide Year End for Academies Author(s): Kath Ryans, MIS Consultant Reviewed by: Michaela Page Publication date: August 2016 Version: 0.1 Review date: email: support@theictservice.org.uk website:
More informationStarting a new company file in QuickBooks QBi series
Reckon Ltd ACN 003 348 730 Locked Bag 15 PO Broadway NSW 2007 Australia Please Note: While we try to provide you with the solution you need, we can t promise that the information set out below is totally
More informationCreate a credit note (FP19)
Create a credit note (FP19) RoboVet Version: Feature Pack 19 Security Permissions: There are 3 areas of security covering the various types of credit note. 1. Credit Notes Take Voucher at Point of Payment:
More informationDynamics GP 2018 General Ledger Year End Closing Checklists
Dynamics GP 2018 General Ledger Year End Closing Checklists Contents 1) General Ledger Year End Closing 3 1.1 What happens when I close the year on Dynamics GP 2018? 3 2) General Ledger Year End Closing
More information7 Financial Statements
Chapter 7 Financial Statements LEARNING OBJECTIVES 1. Restore data from Exercise 6-2. This backup was made on page 202. 2. Explore Sage 50 s Help feature. 3. Print the financial statements. 4. Use drill
More informationQuickBooks Pro Manual
QuickBooks Pro Manual for Development Organisations Fifth version prepared December 2009 for users of QuickBooks Pro 2006. For limited circulation within Mango and selected NGOs (further information from
More informationEntering a Price SQL. Sell Prices. Fieldnames. Variables. Examples. MYOB EXO Business User Guide
Sell Prices The sell prices that you see in the Sell Prices panel on the Details 1 tab of the Stock Item Details window (see page 161) are those you set in EXO Business Config > Admin > Stock > Price Names.
More informationPRO Package Procedures Guide
PRO Package Procedures Guide Procedures This is what Guide you dofor PRO Users Welcome to Paxton Charities Accounting. Please follow the steps below to ensure a smooth implementation of The following
More informationPCSchool Debtors End of Period. Table of Contents
Debtors End of Period User Guide Table of Contents Options available:... 2 1) Period End rollover... 2 2) Utilities rollover... 2 Check List to print... 2 End of Period steps 1 to 9... 3 Step 10: Backup
More informationPEACHTREE COMPLETE 2008 WORKSHOP 3 SULLIVAN REALTY
PEACHTREE COMPLETE 2008 WORKSHOP 3 SULLIVAN REALTY Sullivan Realty Mini Practice Set Reviewing the Cycle Twice This workshop adds to Peachtree skills learned in Workshops 1 and 2 so complete those workshops
More informationOpening Balances Process for a business that is VAT registered using the cash scheme
Opening Balances Process for a business that is VAT registered using the cash scheme Correct opening balances are the key to bookkeeping activities. If you do not enter them accurately your accounts will
More informationINTUIT PROA DVISOR PR O G RAM. QuickBooks Desktop Certification
INTUIT PROA DVISOR PR O G RAM QuickBooks Desktop Certification Getting Started Guide Table of Contents TABLE OF CONTENTS QuickBooks ProAdvisor Training Objectives... 1 What s in the Workbook?... 2 Chapter
More informationBIZPRAC 12 GUIDE BUSINESS ACTIVITY STATEMENTS
BIZPRAC 12 GUIDE BUSINESS ACTIVITY STATEMENTS BAS EXPLAINED The business activity statement is submitted to the ATO by all businesses to report their tax obligations. They will include: Pay as you go withholding
More informationMYOB Exo Fixed Assets. User Guide
MYOB Exo Fixed Assets User Guide 2018.3 Table of Contents Features... 1 Requirements... 2 Asset Groups... 3 Asset Locations... 4 Asset Defaults... 4 Locating an Asset... 5 Adding an Asset... 8 Calculating
More informationeres VAT Increase Guide
Guide This product is owned by H.T.I Pty (Ltd) and is protected by copyright laws. However, you are authorised to make copies of the application solely for backup/ training purposes. Copyright 2018 1.
More informationVAT INCREASE 14% to 15% on 1 April TurboCASH5
VAT INCREASE 14% to 15% on 1 April 2018 TurboCASH5 Date : 6 May 2018 2018 Philip Copeman This document contains proprietary information that is protected by copyright law. All rights are reserved. No part
More informationFOR USE FROM APRIL 2019
MAKING TAX DIGITAL FOR VAT FOR USE FROM APRIL 2019 IMPORTANT DOCUMENT PLEASE READ CAREFULLY BEFORE SUBMITTING YOUR MTD VAT RETURN FROM APRIL 2019 Web: integrity-software.net Company Reg No. 3410598 Page
More informationCheckbook Table of Contents. Receive Money Overview Spend Money Overview
Checkbook Table of Contents Receive Money Overview Spend Money Overview Changing Receive Money transactions To change a Receive Money transaction To change a recurring Receive Money template's name or
More informationPrepare Financial Reports V2017 USER GUIDE. sample for review BSBFIA304 BSBFIA401. Part # 410
Part # 410 Prepare Financial Reports V2017 USER GUIDE BSBFIA304 BSBFIA401 All Rights Reserved Copyright 2018 OfficeLink Learning Version 18.4 2017 This user guide is based on the previous version 17.6
More informationMicrosoft Dynamics GP Year-End Close. Manual
Microsoft Dynamics GP Year-End Close Manual 2017 Contact FMT Consultants Support Customer Care customercare@fmtconsultants.com (760) 930-6400 option 1 Sales Felipe Jara fjara@fmtconsultants.com (760) 930-6451
More informationChapter 7 Sales. 7. Setting Up Sales Details. (F) Point Of Sales (Normal Retail, Retail Touch, Restaurant) (D) Cash Sales (B) (F) (A) (C) (G)
Chapter 7 Sales 7. Setting Up Sales Details (A) Sales Order (B) Delivery Order (C) Sales Invoice (D) Cash Sales (E) Sales Return (F) Point Of Sales (Normal Retail, Retail Touch, Restaurant) (G) Point Redemption
More informationAccounting with MYOB v18. Chapter Five Accounts Receivable
Accounting with MYOB v18 Chapter Five Accounts Receivable Recording a Sale Important Points A Sale is the supply of goods or services to Customers in the normal course of business. Amounts owed by these
More informationHow to record RCT Tax - Standard VAT
How to record RCT Tax - Standard VAT If you are the main These are the steps that explain how to record RCT when you are the main on Standard VAT. They include: Create a supplier record for the sub Create
More informationEnd of Year Debtors
End of Year 2018 Debtors Table of Contents End of Year Debtors - Important please read before starting:... 2 What EOY rollover does:... 2 Step 1 Printing all Reports and checking data... 2 ROLLOVER PROCEDURES:
More information2018 VAT Rate Update. Sage Business Cloud Accounting South Africa. Inge Smit
Sage Business Cloud Accounting South Africa Inge Smit 19 03 2018 www.sage.com Table of Contents Statutory VAT Update 1.0 Summary...3 2.0 Actions to be taken by the client...4 2.1 Update Masterfile...4
More informationMicrosoft Dynamics GP v10.0 General Ledger Year-End Closing Checklist
Microsoft Dynamics GP v10.0 General Ledger Year-End Closing Checklist General Ledger Year-end Closing Procedure What happens when I close the year on Dynamics GP version 10.0? If you are maintaining account
More informationMicrosoft Dynamics GP. Receivables Management
Microsoft Dynamics GP Receivables Management Copyright Copyright 2012 Microsoft. All rights reserved. Limitation of liability This document is provided as-is. Information and views expressed in this document,
More informationSetting up and using the accounting module will give you detailed accounting and financial reporting.
CHAPTER 6 ACCOUNTING To get the most out of the financial aspects of Campground Manager Astra, you should set up the Accounting module using either Cash Basis or Accrual Accounting depending on the method
More informationHere are some special notes and rules good to know before you proceed: NOTE: In the new year you can edit or update any GL Codes if necessary.
CLOSE YEAR PREREQUISITES In order to ensure a smooth transition of closing your fiscal year to opening a new, Pentagon 2000 Software has recommended prerequisites to accommodate your accounting practices
More informationObjective. Overview. Prerequisites. Procedure
Module: Accounts Receivable Topic: Payment Processing Miscellaneous Cash Receipt Entry MUNIS Version 7 Objective This document provides step-by-step instructions on how to enter miscellaneous cash receipts.
More informationStart Here. PRO Package Installation and Set Up Guide
Start Here PRO Package Installation and Set Up Guide Contents Installation Set Up Discussion Points 04 Accounts and Funds Report Sections 05 Creating Your Chart of Accounts Starter Template Account Code
More informationExpedient User Manual Debtors Module
Volume 2 Expedient User Manual Debtors Module Gavin Millman & Associates Pty Ltd 281 Buckley Street Essendon VIC 3040 Phone 03 9331 3944 Web www.expedientsoftware.com.au Table of Contents Accounting Overview...2
More informationPalladium Company Setup Guide
Palladium Company Setup Guide This document will assist you in setting-up your Palladium Company prior to processing transactions. Contents Setting up Linked Accounts... 2 Purpose of Linked Accounts...
More informationWork4Me I Accounting Simulations. Demonstration Problem
Work4Me I Accounting Simulations 3 rd Web-Based Edition Demonstration Problem Classic Accounting Services, Incorporated Page 1 Problem 1 Demonstration Problem The Work4Me problems begin with a hands-on,
More informationShelbyNext Financials: Credit Card Tracking
ShelbyNext Financials: Credit Card Tracking (Course #F211) Presented by: Dave Heston Shelby Consultant 2018 Shelby Systems, Inc. Other brand and product names are trademarks or registered trademarks of
More informationRelease Notes for Sage UBS
Release Notes for Sage UBS Content This release notes covers two sections: 1. Progressive Enhancement (if any) 2. Issues that have been addressed Version 9.9.2.23 Release date: 11 th July 2016 Progressive
More informationPCSchool 2017 End of Year - Finance. Table of Contents
End of Year Finance Table of Contents End of Year Finance... 2 Step 1 Creditors (this can be done in advance before the roll over)... 3 Step 2 Bank Reconciliation... 6 Step 3 Print Reports... 6 Step 4
More informationGL, Reconciliation and End-of-Period. Roll end of Period
GL, Reconciliation and End-of-Period 2 Select the ledgers to roll (it is advisable to roll all ledgers together, however you may choose to roll them separately if required). At the very least, stock and
More informationUnit: Banking Topic: Incoming Payments. Field Name or Data Type. Due Date < Past date >
Solutions Unit: Banking Topic: Incoming Payments 1-1 Incoming Payment (using cash payment means) 1-1-1 Create an A/R Invoice Choose Sales A/R A/R Invoice. Due Date < Past date > Post this invoice to any
More informationChurch Accounting Icon Systems Inc.
IconCMO Church Software by Icon Systems Inc. All rights reserved. No parts of this work may be reproduced in any form or by any means - graphic, electronic, or mechanical, including photocopying, recording,
More informationSeventh-day Adventist Church (SPD) Limited. The New Online SPD Tithes & Offerings Reporting System. Training Manual
Seventh-day Adventist Church (SPD) Limited The New Online SPD Tithes & Offerings Reporting System Training Manual Local Church Treasurers & Assistants Page 2 of 35 Version 1.1 Authorised By: Table of Contents
More informationEnterprise by HansaWorld Accounting Basic
Enterprise by HansaWorld Accounting Basic Version 7.2, Mac OS X August 2014 Table of Contents INTRODUCTION...4 Bookkeeping...4 Single Entry / Double Entry...4 Chart of accounts...4 The five types of accounts...4
More informationThe values within the DMS can be held as consolidated totals if required, as any individual items can be extracted from the Service Plan System.
VERSION 3.1.1 The principle idea of the accounting system is to mirror the balance sheet values held within the edynamix Service Plan system with those held on the Dealer Management System (DMS) balance
More informationIAB LEVEL 2 CERTIFICATE IN MANUAL AND COMPUTERISED BOOKKEEPING (QCF)
CONTENTS IAB LEVEL 2 CERTIFICATE IN MANUAL AND COMPUTERISED BOOKKEEPING (QCF) Qualification Accreditation Number 601/3789/7 (Accreditation review date 31 st December 2016) QUALIFICATION SPECIFICATION Introduction
More informationCPT Chapter2, Unit-3 Fundamentals of Accountancy CA.S.K.Chhabra
CPT Chapter2, Unit-3 Fundamentals of Accountancy CA.S.K.Chhabra What is a Trial balance? It is a Statement prepared to ensure the arithmetical accuracy of all the accounts before the preparation of the
More informationAccounting. With Sage One Integration Set-Up Guide
Accounting With Sage One Integration Set-Up Guide T L 4 T r a i n i n g G u i d e : A C C O U N T I N G P a g e 2 Contents Page Setting up the Sage One Integration... 3 Requirements... 3 1. Integration:...
More informationIntroduction to Client Online
Introduction to Client Online Trade Finance Guide TradeFinanceNewClientsV2Sept15 Contents Introduction 3 Welcome to your introduction to Client Online 3 If you have any questions 3 Logging In 4 Welcome
More informationAttaché Payroll 2014/15 End of Year Procedures
Attaché Payroll 2014/15 End of Year Procedures Table of Contents Which Version of Attaché Do I Need to Process End of Year?... 4 Checking that All Operators have Exited Attaché... 5 Blocking Access to
More information