To do this, the simple way is to create journal directly:
go to command centre > accounts list
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There some new accounts we want to create here:
1. KBF equity
2. KiwiBank Term Loans
3. KiwiBank Savings
For KBF equity, go to equity > press new
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Fill in the form something like this:
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Same process for KiwiBank Term Loans with account type: liability and KiwiBank Savings with account type: asset.
Then, just record the journals as KBF's equity and loan from bank being transfered or deposited to savings. Go to record journal entry.
Equity
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Loan
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From here, KBF can establish the biofuel plant and buying office equipment and vehicles. Go to purchase > enter purchases. Please use GST tax code - Standard (S) with 12.5% GST. Then pay or close all open bill with electronic clearing account.
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Finally, by checking the account list (go to accounts > accounst list), it can be found the balance sheet position something like this.
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How about the inventory and production? Does KBF need more funding to start production? Stay tuned.
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