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Chapter 7. Setting Up Accounts, Inventor... > Entering Opening Balances

Entering Opening Balances

In the Opening Balances section of the EasyStep interview, you are asked to enter information, as of the start date, about which customers owe you money (your accounts receivable) and which vendors you owe money to (your accounts payable). In addition, you enter balances of loan accounts, fixed assets, and other assets and liabilities of your business. If these terms are new to you, don’t worry. The process of entering this information is explained in a straightforward way that is easy to understand.

The Opening Balances section of the EasyStep interview is the place where you enter the balances of all asset and liability accounts as of the start date.


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