How do I configure the initial accounting setup of a new client?
The main accounting data needed for a new client is: • Bank accounts initial balance • Initial balance data (accounts balance) In order to stablish the initial balance of a bank account, next steps must be followed: • Create a new manual settlement dated the last day of the previous period (ie if our first year is going to be 2008, then the manual settlement’s date will be 31st Dec. 2007): • Create Payment: • Amount: initial balance of the bank account. • BP: any. • Form of payment: bank deposit. • Balance Payment: • G/L Item: any • Credit amount: initial balance of the bank account. Process it, and DO NOT POST IT. Create a bank statement that includes the payment created in the manual settlement, and with the same date. Complete the bank statement, and DO NOT POST IT. In order to create the initial balance of the accounts, create the year in which accounting is going to start, and the periods of that year, and open the first period. Create then a G/L Journal, and add lines to create m
