Have you created your company yet in Big Red Cloud’s accounting software? If not, take a look at our company creation guide.
Follow the 6 quick steps below to get your Big Red Cloud online accounting software ready to use. Then you can begin to save yourself time running your accounts and get in depth information into how your business is performing. As always if you have any issue don’t hesitate to contact support
1. Bank Accounts
Bank accounts need to be set up within the Big Red Cloud software in order to keep track of transactions in and out of your accounts.
2. Analysis Categories
If transactions are the building blocks of running your accounts, analysis categories will tell you what brick you’re using. Analysis categories can be simply and easily set up for each book of entry and bank account the way that makes the most sense for you.
3. VAT Rates
Keeping a record of taxes is one of the primary functions of an accounting software. Big Red Cloud has the capability to store multiple VAT rates so that you can apply them when necessary for different circumstances.
4. Suppliers & Customers
Nobody does business on an island. Many of the transactions that you enter will relate to those that you do business with, your customers and suppliers. Customers and suppliers can be easily set up in the Big Red Cloud’s accounting software package.
Every business has to sell something. Big Red Cloud accounting software lets you simply set up various different products to be used as necessary whenever a transaction arises.
One you are in the Big Red Cloud software application, you can set up products by following these steps:
1. Go to Lookup => 2. Products => 3. Enter relevant information.
6. Cash Book Opening Balance
Initial Opening Balance for the Cash Book is entered in Setup / Cash Book Opening Balances. The balance is the balance as at the First Month of transaction entry. It will be updated as part of the Year-End Routine for subsequent financial years.
Now that you’re setup you’re ready to get started preparing your accounts and entering transactions into your new Big Red Cloud accounting software package. As always, if you have any issues or questions don’t hesitate to get in touch. We are waiting to take your call.