I’m brand new to Manager and can’t find my way around. Let’s say I’m entering bookkeeping information for year N. How do I carry forward the balances of end of year N-1? What accounts to debit and credit for year N-1? Thanks in advance for helping me out.
Your figures will be automatically transferred into new financial year without doing anything.
When your new financial year starts, you can create
Profit & Loss Statement and
Balance Sheet for new financial year. That is pretty much all what you need to do.
Thanks for your help. I will do that!
Let say last year I’ve used other accounting software then for the current year I want to use Manager software. How can I record all the Balance b/f from last year to Manager software? Do you have an easy way to me to record it or I should record all it one by one?
Read the Guides. See http://guides.manager.io/businesses/settings/start-date.