So today was the 2nd day of meeting.We started out by entering the opening balances for 1st june. We took turns to key in the opening balances. Our aim for today was to get started with the AR setup. We managed to set up the tax as well as bank services.

There were some issues regarding the account on impairment loss. We used the account number 1031.For the AR setup we had only managed to finish until the accounts set. It was quite manageable.

We managed to key in the recuring entries. We have identified depreciation as the recurring entries. There are still other recurring entries which we are unsure of . We are to identify the recurring entries on our own first and brainstorm next friday. That's all we did for today. Our next meeting would bo on Friday.

We planned to finish up in the AR as well as AP set up first . There is still much work that needs to be done. till then........

=)