Link the accounts that you wish to use for recording VAT when making deposits or writing cheques.
Historical purchases are those made prior to using Purchase Ledger that have a current balance due. The total of these purchases should equal the balance of your linked creditors account before you use the Purchase Ledger.
You should enter your supplier cards before recording historical purchases. To zoom to the Card File, click this arrow:
Historical Purchase Orders
As a timesaver, don't forget to enter default credit terms for your supplier cards.
Link your creditors account and note which bank account you use for bill payments. If you send deposits to suppliers, pay VAT, receive discounts or get charged for late payments, link those accounts too.
Linked Creditors Accounts
Your Company Information and Opening Balances must be set before you can set up Purchase Ledger.
Complete Nominal Ledger Setup
Historical sales are those made prior to using Sales Ledger that have a current balance due. The total of these sales should equal the balance of your linked debtors account before you use the Sales Ledger.
You should enter your customer cards before recording historical sales. To zoom to the Card File, click this arrow:
Historical Sales Invoices
As a timesaver, don't forget to enter default credit terms for your customer cards.
Link your receivables account and note which cheque account you use for customer payments. If you take deposits, collect VAT, give discounts or charge for late payments, link those accounts too.
Linked Debtors Accounts
Your Company Information and Opening Balances must be set before you can set up Sales Ledger.
Complete Nominal Ledger Setup
Once your chart of accounts is complete, enter the balances of your accounts as of the beginning of your Conversion Month. (These are the same as the end of the month prior to Conversion Month.)
Link the accounts that you wish to use for recording VAT when making deposits or writing cheques.
Is your chart of accounts complete? To review or change your chart of accounts, click this arrow:
Linked Nominal and Cheque-book Accounts
Enter Opening Balances
Make sure your Financial Year, Last Month in Financial Year, Conversion Month and Number of Periods are correct. Once they are recorded, they are difficult (but not impossible) to change.
