When you select to enter a receivable existing as at Migration Date, Mclowd™ displays:
All receivables attribute to the Fund, so there is no facility to select a different Account here.
When entering a description, take care to include enough detail to enable you (and potentially you accountant or auditor) to identify the receivable correctly when it appears in reports, and to ensure you can identify it when you wish to enter receipt of the payment that clears this receivable.
You can also enter other miscellaneous assets not entered elsewhere in this section.
REPEAT until all Receivables and other miscellaneous assets as at Migration Date are entered.
Clicking ADD RECEIVABLES/OTHER ASSETS on the Fund Setup Menu after entries are made will display a list of all Receivable entries for checking.
Next, enter Liabilities as at the start date.
