After installation of the software - Open a portfolio - Each portfolio corresponds to an entity (Individual / HUF / Company / Firm)
You keying (or import) your closing stock - This becomes your opening stock for a financial year.- This is required only first time you create a new portfolio in xPAC.
Next enter the trades you have done with your broker(s) or your purchase through IPO, One bill / contract at a time. (check the screen shot) or you can import the data from brokers bill / contract for the full year at one go. (contracts are usually sent to you by your brokers by email or you can download from brokers web site) - Posting to brokers ledger / investment ledger is done automatically.
That's it. Now you can run various reports like longterm profits, shortterm profts, closing stock, market value, etc. as per your requirements.
For Accounting, you have to enter the opening balance for each account head - This is required only first time you create a new portfolio in xPAC
Enter bank book from slips / cheques, or you may choose to import from the bank statment. (usually you can download in CSV or excel). If you import a bank statement, you just have to specify the account head for each transaction. We have even made this easier as you can search for occurences like "ATM" etc. in the bank statement and set the account code against all such occurences in one go.
Use the Journal book if required to pass other entries.
Get the balance sheet.
in xPAC each financial year is kept seperate, so it is easy to start with any financial year and lateron you can takeup previous financial year entry.