Getting Started

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15 Minute Setup

It’s easy to start using Saasu straight away using the 15 minute setup steps below. Read our product blog to keep up with new features. If you hit any roadblocks just create a service ticket (you will be asked to sign-in to confirm you are on a supported plan). You can also try our FAQ’s.

  1. Accounts classify transactions in your profit and loss or balance sheet. Accounts can be Bank Accounts used to make or receive payments. The Bank Account type can also be used for credit cards and director loans. Add Accounts to your chart of accounts including bank accounts you need to code you transactions by clicking Add > Accounts. You can also import them from Sample Chart of Accounts for your industry or by importing them via View > Import or Export > Import Other Data section and click Accounts.
  2. Add Contacts. These are customers & suppliers in Saasu. Contacts can belong to a company.
  3. Opening Balances can be added if this is an existing business. They help you carry your current financial position over from your old software. Add opening balances from View > Accounts and click Opening Balances.
  4. Setup your invoice Templates by going to View > Templates. Click the template you want to work on. Have your logo image file in GIF or JPG format handy to upload. From here you can also setup your email format for sending these. Choose the second tab in the template edit screen to do this. Make sure you include a BCC copy to yourself by default so you have a record of emails you send out from Saasu.
  5. Inventory Items can be added from the Main Menu clicking Add > Item. You will need to add or import all your inventory items before you can create an Invoice or Purchase using the Inventory Item format.
  6. Go to View > Employees > Add (link) to add each Employee. Fill in their Main and Default Pay tabs. If you need to accrue leave use Base Pay Hourly pay items.
  7. Tags can be added at View > Tags to help classify transactions, contacts and activities information so that you can report on them. Use them for jobs, projects or divisions.

Entering Opening Balances

Entering opening balances for your file is done in More Lists > Accounts > Opening Balances. If you are starting to use your file at the beginning of the financial period then this is the easy way to get started.

Example

You are starting to record transactions from 01/07/2007. We will add an opening balance for a Bank Account which has $650 in funds available as at the close of business 30/06/2007.

In this case you can get the opening balance from your bank statement however for other Accounts you can get opening balances from your old accounting system (balance sheet report as at 30/06/2007) or from your tax return (financial year ending 30/06/2007). Ensure those records are complete and accurate before using the information. If in doubt check with your accountant

  1. Setup a Bank Account called Asset: Cheque Account if you haven’t already done so.
  2. From the main menu go to View > Accounts > Opening Balances.
  3. You should now be at the List of Opening Balance screen.
  4. Enter the last date of your previous accounting system to be 30/06/07.
  5. Enter $650 into the Asset: Cheque Account field which is found in the “Asset” section.
  6. Go to the bottom of the screen and click Save.

If there are uncleared debits or credits you will need to adjust the opening balance for the Bank Account by the total value of these transactions. This will enable you to reconcile using the Bank Reconciliation report

You may have invoices issued or received that hadn’t been paid at the time you started your file. It is useful to enter all of these so that you can track them as payments are made or received against the Bank Account you have just started.

Entering unpaid Sales and Purchases ready for future payments

This help item is relevant to companies migrating where they have unpaid sales or purchases relating to their previous tax periods (that had been entered into their previous accounting system or software).

In this example we will add a Purchase that we hadn’t paid prior to migration.

Step 1. Capture Your Unpaid Purchases:

  1. From the main menu click the add icon for a Purchase.
  2. Enter the date and number you used for the Purchase in your old accounting system or if you are using a new numbering system you might want to refer to the old Purchase number in the summary.
  3. Enter the remainder of the Purchase as you would normally.
  4. For the Account select Equity: Historical Balancing.
  5. Select the appropriate tax code for each line item.
  6. Enter the amount inclusive of any tax and save the transaction.

Step 2: Update the Opening Balances
Assuming you have previously entered opening balances:

  1. Go to the opening balances. Choose; Main Menu > Accounts > Opening Balances
  2. Reduce the Liability: Accounts Payable amount by the total amount of the invoice(s) just entered
  3. Reduce the Tax Paid on Purchases entry by the total amount of any tax in the invoice(s) just entered

If you enter in opening balances at a later date, you will need to subtract all invoices entered prior to the opening balance date (as described above) from the appropriate entries on the Opening Balance screen.

Step 3: Check your entries:

  1. We have created an Purchase which you will be able to record payment for once paid. Check the Who I Owe report to ensure that the Purchase is listed. The Purchase is stored as unpaid until you apply a payment.
  2. If you have adjusted your opening balances then you may choose to view the Balance Sheet report as at the opening balance date of you file to ensure the Liability: Accounts Payable and Asset: Tax Paid on Purchases Accounts have the correct balances according to the closing balances of your previous accounting system.

Why do I need to change my opening balances?

Your opening balance for the Liability: Accounts Payable Account is the sum total of all the outstanding Purchases that you owe people money for. When you enter an Invoice the web finance engine creates hidden line items entries behind the scenes that allocate the correct amount to the Account. Subsequently, once you have entered all your unpaid Purchases then you may not need to enter an opening balance for the Liability: Accounts Payable Account.