Problem: How to enter Authorized Capital at begging of accounting in FirstBIT software?
Solution: Use Opening Balance entry as shown.
1. Create a document Opening Balance Entry: Accounting > See also > Opening Balance Entry
See also 7.3. Opening Balances Entering
2. In the Accounting Section, select Other Sections.:
Go to 3. At the Other Section tab and Click , Add a new line:
Fill in the fields that appearCredit side with GL Account Issued Share Capital, Shareholder and Amount:
Click 4. Post and close the document.
Now we can generate a STATEMENT OF FINANCIAL POSITION report, where Generate a Statement of Financial Position, and find the authorized capital will be reflected.:
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