Entering Your Opening Balances in Sage One: Your Checklist
Part of the Sage One For Dummies Cheat Sheet (UK Edition)
Entering your opening balances is crucial because they represent the financial position of your business on the day that you start using Sage One. The documents that you require are
Bank statements at the prior year end
Outstanding sales invoices (that is, those that are unpaid at the year end) or Aged Debtors report
Outstanding purchase invoices (that is, those that are unpaid at the year end) or Aged Creditors report
Opening Trial Balance from your accountant (if you’re an existing business and moving from another accounting system to Sage One)
The requirement that you must put up 60 cents of every $1 you invest.
A document that contains all the required financial statements and information contained in the 10-Ks presented in a colorful format.
The number of shares that usually trade hands in a given day.
A document that tells you what a company owns and what it owes.
An IOU issued by a government, a company, or another borrower.
A fee paid to a broker to handle investment transactions for you.
Income you’ve made on the capital you’ve invested.
A brokerage account into which you deposit cold hard cash your broker uses to buy stocks for you.
The price brokers charge for executing trades.
The measure of how much prices for the things individuals buy are changing.
The number of days it would take, on average, for the number of shares that are being shorted to trade.
To spread your risk over a wide swath of investments.
The amount of return you’re getting in the form of a dividend, in other words, how big the dividend is relative to what you’ve invested.
Cash payments made by companies to their investors.
A document that tells you how much the company made during the quarter. Earnings reports also contain all the vital financial results for the quarter, including the net income (or total profit) as well as earnings per share, which is how much of the company’s profit you can lay claim to as a shareholder.
Groups of stocks, much like mutual funds, that trade like stocks.
The way to correctly measure stock return.
The length of time you hold a stock.
A document that outlines how much money a company made.
Trades in which you set the price you’re willing to accept.
The percentage of ownership of stocks relative to what has been borrowed (typically 30 percent or higher at most firms) most online brokers require investors to maintain.
An account type that lets you borrow money you can use to buy stocks.
Money collected from many investors and used to invest in a basket of assets.
The number of shares that are in the hands of investors.
If you own an option, you have the right, but not the obligation, to buy or sell an investment, including shares of stock by a certain preset time in the future.
Stocks that trade for less than a dollar.
Tracks prices paid by companies that create goods. When prices are rising, both bond and stock investors pay attention because that affects the value of their investments. Stock investors typically don’t like inflation because it drives up costs and makes their investments worth less.
A document that describes company matters to be discussed and voted on by shareholders at the annual meeting.
The difference between assets and liabilities is what portion of the company shareholders own, called.
What happens when the short sellers get nervous that a stock they’re betting against will rise and they rush out and buy the stock back so that they can return it to the brokers they borrowed it from.
The standard accounts that come to mind when you think about investing online.
Accounts that are sheltered in some way for some period or other from the Internal Revenue Service.
The amount a stock has gone up plus its dividend.
The amount of buying and selling a fund does.
An estimation a stock’s value computed by comparing the stock price with a measure taken from the company’s financial statements.
A measure of how many times shares of a stock or ETF trade hands.