Many thanks for your response.

The transaction Memo field is not showing up in the journal entries, Bank Statements or GL Account Transaction reports, such as customer payment memo, this is important for audit and reconciliation purposes.

How do I go about fixing this?  I'm using FrontAccounting 2.4.18, I would appreciate any help.

How do I treat fixed assets purchased and paid for in the past in the newly installed FrontAccounting now? I don't want the purchase to go to the account payable. I need a guide on which accounts I should create for both debit and credit, emphasis these fixed assets have been paid for in the past 5 years.