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FIN-X Solutions – Financial Solution Version 6 User Manual
Page 4 of 58
4.4.2 New Agreements in the Current Year............................................................ 44
4.4.3 Accounting for Agreement Instalments / Payments ....................................... 45
4.4.4 Entering Agreement Balances in the Current Year ........................................ 45
4.5
Fixed Asset Transactions .............................................................................. 47
4.5.1 Current Fixed Asset Purchases..................................................................... 48
4.5.2 Private Use of Fixed Assets .......................................................................... 49
4.5.3 Fixed Asset Disposal Transactions ............................................................... 49
4.5.4 Prior Year Fixed Asset Purchases................................................................. 49
SECTION 5 – FINANCIAL SOLUTION REPORTS....................................................... 50
5.1
Performance Overview.................................................................................. 50
5.2
Balance Sheet............................................................................................... 50
5.3
Income Statement ......................................................................................... 50
5.4
Divisional Income Statement......................................................................... 50
5.5
Cash Flow Report ......................................................................................... 50
5.5.1 Cash Flow Reconciliation .............................................................................. 51
5.6
VAT Report ................................................................................................... 52
5.7
Petty Cash Report......................................................................................... 52
5.8
Loan Account Report .................................................................................... 53
5.9
Taxation Report ............................................................................................ 53
SECTION 6 – OPENING BALANCES .......................................................................... 54
6.1
Introduction ................................................................................................... 54
6.2
Sundry Accounts Opening Balances ............................................................. 54
6.2.1 Debtors Opening Balances ........................................................................... 54
6.2.2 Inventories Opening Balances ...................................................................... 54
6.2.3 Creditors Opening Balances ......................................................................... 55
6.2.4 VAT Opening Balances ................................................................................. 55
6.3
Bank Account Opening Balances .................................................................. 55
6.4
Loan Account Opening Balances .................................................................. 55
6.5
Hire Purchase / Lease Agreements Opening Balances................................. 56
6.6
Fixed Assets Opening Balances.................................................................... 56
6.7
Accuracy of Opening Balances ..................................................................... 56
APPENDIX A – INSERTING A BUSINESS LOGO ....................................................... 57
APPENDIX B – SOFTWARE LICENCE AGREEMENT................................................ 58