Magaya Software Accounting Manual
Magaya Software Accounting Manual
Magaya Software Accounting Manual
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
BALANCE SHEET<br />
A detailed Balance Sheet shows the transactions for the selected period for each<br />
account:<br />
• The columns of the report show the transaction type, date and number,<br />
the customer or vendor name, the accounts, the balance, and more.<br />
• If an invoice or other accounting transaction has more than one account<br />
included in it, the word “-MANY-” will display in the Account column.<br />
• Each account will show a beginning balance that accumulates the activity<br />
before the period. After that, you will see the transactions for the period<br />
and then the ending balance as of the end date of the period.<br />
If you sell inventory, and choose the Average Cost method of costing the items,<br />
the average will appear in the Balance Sheet.<br />
For more details on this costing method, see the topic “Average Cost” in the<br />
<strong>Magaya</strong> <strong>Software</strong> <strong>Accounting</strong> <strong>Manual</strong>.<br />
121