Hi I'm just setting up my accounts having just got Solar Accounts. I need to enter opening bank balances and customer invoices that were issued in last financial year, but which have been paid in this financial year but I can't see where to do this and can't find an answer on the forum/help. Do I have to enter the customer invoices with there orriginal invoice date in last financial year and then it sorts it out for me?
Hi Sandra,
To enter your opening bank balances, go to the the Accounts list and double-click on "Cheque Account" to enter your opening balance. You can do the same for credit card balances or create a new account if necessary (click menu File > New > Account).
When entering invoices from a previous financial year, set the date to be in the previous year and set the Account column to 'Retained Earnings'. This will result in an open invoice but prevent it from affecting your profit for the current year. Then record an invoice payment as normal.
Regards,
