Background: we are going to use AX 2012 R3 for year 2014 on wards given the transactions are about 300 to 500 in year 2014. (so thinking of importing/manual entry). Business is related to product resale, managed services and consulting.
We didn’t use any accounting system in year 2013 (mostly excel! for tracking transactions).
Assuming Retained earnings Income from year 2013 to 2014 → say from gross profit of $40k, after taxes, it is $25k.
Company owner injected say capital of $100k to help with cash flow on 1/1/2014. also going to assume that we have no stock as of 1/1/2015 (since all items are direct shipments to end users or should reflect some stock!).
how do we reflect the above and starting balances as of 1/1/2014?
Much appreciate it.