I have bought this for doing my exams and am currently trying to learn how to use it. I have created customers and suppliers and put opening balances for them, I've entered opening balances for drawings, bank, petty cash and fixed assets but am stuck on opening balances for VAT, Sales and Purchases. I've looked at the QB help for VAT but when I follow the instructions it says to use the Opening Bal Equity account and I don't have one. I can't even find how to enter O/B for sales and purchases in the help, have I made a big mistake choosing Quickbooks?
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