How to enter opening bills when using an accrual system of accounting
For new/first time ParishSOFT Ledger & Payables clients, you may have prior month/year bills that have not been paid that you would like to pay in your new fiscal year using ParishSOFT. If your prior accounting system used the Cash Accounting method, this video is not necessary for you. If your prior accounting system used the Accrual Accounting method, the bills entered in the prior fiscal month/year have already updated your Accounts Payable and Expense Accounts. This video will walk you through entering those prior month/year unpaid bills without affecting the Accounts Payable balance.