Hi, I am starting to use your software for the first time. All of my opening balances are from the nominal page of sage and are what is showing after doing the year end.
Business account DR £910.03
Drawings DR £13304.07
Capital Input CR £135.00
P&L CR £14079.10
I would now just continue with this years work on sage, however with having to transfer opening balances to solar I have put the top three in the relevant accounts via opening balances. Where do I put the P&L. If indeed have I done anything right.?
Hi Pamela,
It sounds like the 'P&L' account represents profit from previous years carried forward. If this is the case, set the opening balance from 'Retained Earnings' in Solar Accounts to £14079.10. Alternatively you can create another equity account by clicking menu File > New > Account.
Regards,
