How do I set up the Trading Accounts?
Trading Accounts - provide a unique way of maintaining full trading accounts in your accounting systems without the need for complex journal entries and stock adjustments.
There are 3 types of trading accounts:
Note: Trading Accounts are not available in level 1 of the program.
Step 1 - Create your Enterprise/s.
Step 4 - Adding a new Trading Account.
Step 6 - Fill in the information for each of the following areas:
Other details to enter:
The figures for purchase and sales are automatically calculated by the entries you put into Cashbook. When entering a transaction for the purchase or sale, after selecting the account code, you will also need to select the relevant enterprise (if using enterprises) and put in the number sold or purchased in the quantities field.
Note that livestock trading accounts are "self-balancing". That means if you change any number field (natural increase, losses, etc.) the closing number will change accordingly. If you change the closing number, the difference will be adjusted to losses. Note that numbers can be entered as fractional quantities if required.