Note: Do not enter amounts as opening balances.
AccountEdge (US & Quebec)
Entering the Owner investment (paid in capital)
- Create a Paid in Capital and an Owner Distribution Account for each investor. See the chart of accounts for valid account numbers.
- Create a journal entry to Debit the appropriate cash account and credit the appropriate paid in capital account.
Entering checks from the bank statement
- Go to banking, spend money.
- Enter the check information. Be sure you pay from the correct bank account. Enter the check information, code to the correct expense account, mark check already paid and record.
Enter ACH/Debit transactions from the bank statement
- Go to Accounts, Record Journal Entry
- Debit the appropriate asset or expense account and credit the appropriate cash account. Click Record.
Note: To receive Agent invoice payments go to Sales Receive Payments.
- Go to Banking, Receive Money
- Be sure that Group with Undeposited Funds is selected. Enter the receipt information (payor is optional), Code to the appropriate account and record.
- Go back to banking, and select Prepare Bank Deposit.
- Select the appropriate Deposit to Account.