Here's how to use Sage Instant Accounts to manage your business accounts, from tracking customers, invoicing and supplier tasks.
Step 3. Set up a Chart of Accounts (COA) for creating profit, loss and balance-sheet reports. Sage Instant Accounts offers several types of COA based on the company type. Typically, it will consist of income, expenses, overheads, assets and liabilities. To set up a COA, click Company, COA, Edit.
Step 4. Transactions that you make during the year are put into a nominal ledger account. This is displayed when you click Company and select Record. In the window that appears, you may enter budgeted figures and actual amounts under each category, such as sales, rent, rates and utilities.
Step 5. Next you need to set up your bank details by clicking Bank on the left side of the screen. Bank accounts are nominal records, but should be entered here so that Instant Accounts can handle them more efficiently. You can either enter accounts into a blank record or you can use the Bank Record wizard to guide you.
Step 6. Finally, enter your customer, supplier and product details by clicking the Customers, Suppliers or Products links on the left and then choosing the New Customer, Supplier or Product links that appear in the Tasks menu. You'll then be prompted to enter more detailed information in each case.
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