Software Setup For Dummies

Step 1 : Create New Company

  • For new user who just sign up, when you login for the first time, software will open the company setup page for you to setup your first company.
  • Select the pricing plan from the drop down list.( Standard = Accounting Only ; Premium = Including Inventory)
  • Select Organization for the new Company.
  • Fill up the company name and address as this information will display in your report.
  • After you click save button, the following will be created as well :
  • Click here for procedure on how to setup second company.

Step 2 : Setup Financial Start Period

  • go to Setup ==> Account Setup.
  • Setup Financial Start Period, the first day of your financial year.
  • If you start using our software on the first day of Financial Start Period, then the System Conversion Date is same as the Financial Start Period.
  • If you had been using other accounting software after the Financial Start Period and have just switch to our accounting software,
  • then the System Conversion Date is the date you start using this software.
  • The System Conversion Date is always after the Financial Start Period.
  • If the System Conversion Date is same as Financial Start Period, there will be no data entry needed for opening balance on Profit and Loss Account and the Profit and Loss Account will not be appear in the Maintain Opening Balance.
  • Profit And Loss Account consist of Sales, Sales Adjustment, Cost Of Goods Sold, Other Income, Extra Ordinary Income and Expenses account.
  • If the System Conversion Date is not same as Financial Start Period, you will need to enter opening balance for Profit And Loss Account in the Maintain Opening Balance.

Note : You can start enter transaction after step 1 and step 2, but must complete all the step later to have a proper reporting.


Step 3 : Maintain Opening Balance

  • The opening balance is the balance that is brought forward from the end of one accounting period to the beginning of a new accounting period.
  • You can always get this balance from your previous accounting software.
  • go to General Ledger ==> Maintain Opening Balance.
  • Enter the opening balance data in the table, click save button once finish.
  • For Retained Earning, enter the value as at financial start date.
  • If Financial Start Period same as System Conversion Date, you do not need to enter opening balance for Profit and Loss Account.
  • Trade Debtor, Trade Creditor (all in Red color) are calculate by software from Customer/Supplier Opening Balance.
  • Stock (Red color) is calculate by software from Maintain Stock Value.

Step 4 : Maintain Customer/Supplier Opening Balance

  • Customer/Supplier Opening Balance is the Customer/Supplier outstanding bill ( Bill not received payment(customer) or not paid (supplier)).
  • Enter the outstanding bill in Customer Sales Invoice/Supplier Purchase Invoice.
  • All the outstanding's Bill date should be before System Conversion Date, and software will prompt you to confirm "Save as past invoice" when you save the Bill.
  • After finish key in all the outstanding bill, come back to Maintain Opening Balance to generate the opening balance by clicking the save button.
  • Without generating the opening balance, The debtor/creditor Control Account in financial reporting will not accurate.

Step 5 : Maintain Stock Value

  • go to General Ledger ==> Maintain Stock Value ==> New Stock Value.
  • Maintain Stock Value Listing will list out all your end of month stock value.
  • Setup P&L Opening Stock, P&L Closing Stock and Balance Sheet Stock.
  • Then select the year and the project (if applicable ).
  • Enter end of month value in the table and click save icon to save the data.
  • After save, the saved data will display in the Maintain Stock Value Listing Table.
  • After complete maintain stock value, go to Maintain Opening Balance and click the save button to generate the stock value for Reporting purpose.
  • Without generating the opening balance, The stock value in financial reporting will not accurate.