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FIN-X Solutions – Financial Solution Version 7 User Manual
Page 4 of 54
4.4.3 Accounting for Agreement Instalments / Payments ....................................... 41
4.4.4 Entering Agreement Balances in the Current Year ........................................ 41
4.5
Fixed Asset Transactions .............................................................................. 43
4.5.1 Current Fixed Asset Purchases..................................................................... 44
4.5.2 Private Use of Fixed Assets .......................................................................... 45
4.5.3 Fixed Asset Disposal Transactions ............................................................... 45
4.5.4 Prior Year Fixed Asset Purchases................................................................. 45
SECTION 5 – FINANCIAL SOLUTION REPORTS....................................................... 46
5.1
Performance Overview.................................................................................. 46
5.2
Balance Sheet............................................................................................... 46
5.3
Income Statement ......................................................................................... 46
5.4
Cash Flow Report ......................................................................................... 46
5.4.1 Cash Flow Reconciliation .............................................................................. 46
5.5
VAT Report ................................................................................................... 48
5.6
Petty Cash Report......................................................................................... 48
5.7
Loan Account Report .................................................................................... 49
5.8
Taxation Report ............................................................................................ 49
SECTION 6 – OPENING BALANCES .......................................................................... 50
6.1
Introduction ................................................................................................... 50
6.2
Sundry Accounts Opening Balances ............................................................. 50
6.2.1 Debtors Opening Balances ........................................................................... 50
6.2.2 Inventories Opening Balances ...................................................................... 50
6.2.3 Creditors Opening Balances ......................................................................... 51
6.2.4 VAT Opening Balances ................................................................................. 51
6.3
Bank Account Opening Balances .................................................................. 51
6.4
Loan Account Opening Balances .................................................................. 51
6.5
Hire Purchase / Lease Agreements Opening Balances................................. 52
6.6
Fixed Assets Opening Balances.................................................................... 52
6.7
Accuracy of Opening Balances ..................................................................... 52
APPENDIX A – INSERTING A BUSINESS LOGO ....................................................... 53
APPENDIX B – SOFTWARE LICENCE AGREEMENT................................................ 54