I have a client who wants a free multi company accounting package and is going for VT Cash Book (as I don't think there is anything else free and multi company). However he has a list from his accountant of opening balances to be entered. Is this possible with VT Cash Book?
I copied this for you from the VT Cash Book help section:
To enter an opening cash or bank balance:
1. Click on the P+R button on the main toolbar
2. In the first column of the Payments And Receipts dialog, enter 1 (for a payment) for an overdrawn balance or 3 (for a receipt) for an in hand balance
3. Enter the amount of the bank balance in the Total column. Do not enter any VAT. The transaction should be dated the last day covered by the previous system
4. In the Analysis ledger column, select Creditors
5. In the Analysis account column, select Opening balances contra
6. Click on Save to save the transaction
If you have a bank reconciliation from a previous system, do the above for the statement balance and each outstanding item in the reconciliation.
