Note: Important information about a few specific accounts
Some of the accounts in your accounts list require some "special treatment" when you're entering opening balances. Please read the following information carefully.
Current Year Earnings One of your most vital accounts is the capital account called Current Year Earnings. The balance of this account is incremented automatically during the course of your normal Accounting Plus business activity. Although this account doesn't appear in the Account Opening Balances window, don't worry -- it does exist! Since Accounting Plus calculates the balance of this account automatically, you can't enter an opening balance for it.
If your conversion month is the first month of your financial year, the opening balance of your Current Year Earnings account will be zero. This indicates that your company hasn't acquired any income in the current year because the year has just begun.
Retained Earnings If you've just begun using Accounting Plus, enter your company's entire previous year's earnings as the opening balance of your Retained Earnings account.
Main stock asset account If you plan to use Accounting Plus's stock features, don't enter an opening balance for the account you intend to use to track the value of your company's stock items. You'll enter this account's opening balance when you set up your items. See Creating items to learn how to set up your company's items.
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