Take on balances


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In order to bring the balances into Smart-It Accounting, you will need to have certain documentation from the previous accounting system.

 


Documentation Needed

General Ledger

Trial balance or balance sheet from the previous accounting system and bank statements. It is best to use a trial balance or balance sheet that has been audited.

Customer Balances

Customer age analysis.

Supplier Balances

Supplier age analysis.

Inventory Balances

An accurate stock take, with cost prices for each item.

 

When taking on balances, your entries will not have tax as tax has already been accounted for on all of the transactions when you originally posted them in your previous accounting system. All of the balances will be exclusive of tax.

 

Taking on bank balances

Taking on customer balances

Taking on supplier balances

 

To add a General Ledger Account, click here.

To set Account Defaults, click here.

 

Note

After taking on all the balances, print the trial balance and compare it with the trial balance you used to do the take on.

 

Data that can be imported into SI+

Customer > Extra > Import

Supplier > Import from CSV

Stock Items > Extra > Stock & Price List Import