6. Basic Accounting Transactions

WHAT YOU’LL LEARN

  • How to Enter Opening Balances
  • Customer, Vendor, Employee, and Banking Daily Transactions
  • Journal Entries

Express opening balances for each account must match the opening balances in your Balance Sheet and Income Statement, then you are ready for your daily work. This chapter explains opening balance transactions for both new and existing businesses.

You will learn about each type of customer, vendor, employee, and banking transaction, plus general journal transactions. All the different types of daily transactions that you might have are explained in detail.

Opening Balance Overview

The basic setup of Office Accounting Express is complete except for one area: the opening balances. If you ...

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