Wayne McNeil

On 6/27/2018 at 9:58 PM, Gil121438 said:

I just purchased "express accounts" and need to know how you close the books at the end of the year and open the accounts for the new year

Gil121438

I think before you can close of any account for year end it should be done through a general journal transaction.  Expense accounts will be required a credit amount and then apply the dr amount to balance it to where ever it needs to go. 

On 8/20/2019 at 3:29 AM, Chinnie said:

Pls how do you record a loan so it reflects on your balance sheet as a liability 

 

Thanks

 

Set up an accounts payable/loan account and then use the general journal to make the posting.  Debit Bank account and credit the accounts payable/loan account, hit enter and voila

I just downloaded this little program to use for a small seniors club to help them look after their paper work.

I didn't see anywhere in the program whereby auto reference numbers are assigned each transaction. Is this possible with this program.