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In our earlier post, we discussed about how to record the outstanding sales invoices.
Besides the outstanding sales invoices you are required to record the outstanding purchase invoice (bills) too when crossing over from the existing accounting software or manual system to the MoneyWorks accounting software.
Under the “Setting up” navigator page, click the “Enter Purchase Invoices” icon (the number 4 step of the "Setting Up" page) to get into the Purchase Invoice transaction list window.
Follow the instruction given (the yellow sticky note), click the “New” button to start recording the outstanding Purchase Invoices. You should use the Setup account, which is an account capturing all the opening balances, with a * GST code and enter the total owing of the bill into the amount field.