26 Reply by Greenawise

(6 replies, posted in Banking and General Ledger)

Still with regards to initial balances, the system fails to process if an opening balance of 0.00 is entered.

I'm setting up front accounting to suit a bible college, now the question is how does an inventory of say, tution(since it's abstract) fit into the system, and how do I handle actual inventory of say books (sold to students) and food stuffs (Used to feed students).

Thirdly, how do i reverse a wrong transaction already posted.

Finally, how do I enter foreign accounts in the chart of account since the home currency tends to be different.My home currency is the Ghana Cedi but I also want to keep a dollar account to moniter dollar payments.

Thanks for your courtesies.

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27 Reply by Greenawise

(6 replies, posted in Banking and General Ledger)

Well I've found it.

Thanks a lot
Cheers

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28 Topic by Greenawise

(6 replies, posted in Banking and General Ledger)

I've tried to follow your instructions on setting up initial balances by setting the fiscal year 1 year before the current to read 1 Jan 2007 to 31 Dec 2007 and tried posting fictitious initial balances for trial purposes making sure that the debit and credit sides balance accordingly but this error message appears and says 'the entered date is not in fiscal year'

Kindly explain to me why that and suggest how I can possibly deal with this problem.

Regards.

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