What is importance of Setup Opening Balance ?
It is vital to setup opening balance to receive accurate financial statements. TRX Accounting allows you to transfer data from QuickBooks during the setup. Data of the current working year is transferred. The closing balance of the preceeding year in QuickBooks has to be entered as an opening balance of the current year. For every subsequent transaction, TRX Accounting makes the adjustment to the opening balance and offers an exact current balance status.
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- What is importance of Setup Opening Balance ?
