The fastest way to enter all your account opening balances is from the Setup > Balances > Account Opening Balances menu.
Use the following balance sheet to enter the opening balances for IckyLeaks.
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Another term for Accounts Receivable is Trade Debtors, and for Accounts Payable is Trade Creditors |
Balance sheet from AccountRight is a little bit ugly.
So we can leave the one on the left but make sure we talk to the above note if these key words haven't already been discussed previously so students understand some of the terms that are interchangebable for Receivables and Payables.
