Startup capital and starting inventory

1

Dear friends, I recently noticed Manager has update the accounting package and i couldn’t see where to input the starting up capital in cash and bank account and where to input startup inventory for does that is not using manager before to input their existing inventory to the system.

I have searched through the system but I couldn’t any solution, that’s why I have to come here to ask you guys for the latest update on how i can go about it!

Please how can I input the startup capital of a business in cash and bank account and available inventory for does that want to switch the software?

2

Basically you just enter the individual transactions to make up for starting balances.

In most cases, starting balances are to be established using a journal entry.

You’d debit accounts such as “Cash & cash equivalents” or “Inventory on hand” and credit accounts such as “Retained earnings” so it all balances.