This website helps create the starting balances and opening balance records as needed for a new file. All new users should read this site in entirety. If you are a PRIOR ZAP Template User upgrading an existing file , skip to the "Upgraders!" page.
!! READ THIS ENTIRE HOME PAGE FIRST, THEN DO THE WORK!!
Sections on this page:
Objectives
Confirmation you are ready for this step...
3 Scenarios - Introduction
3 Scenarios - Expanded Introduction
Define Three Scenarios to help you determine the work you need to do for this step in your setup process. (Scenarios defined later)
Provide detailed instructions for STATEMENT WORKSHEET Opening Balance and First Statement Start Date Values for All THREE Scenarios
Provide detailed instructions for ASSET/LIABILITY JOURNAL WORKSHEET Opening Balance Records for All THREE Scenarios
Provide detailed instructions for GENERAL JOURNAL records, if needed.
Provide detailed information about our "ZAP Special" Account Type which is a 6th Account Type we created for use with all Opening Balance Records and some Transfer records only found in Scenario 3, Option 1 (to be explained later). .
Provide experience with the actual accounting keystrokes required to " fabricate money from thin air" and to "vaporization money" in a context you can understand so you can refer to this wisdom as it pertains to a much larger system that affects all of us!.
By learning how "fabricated money" gets accounted for in the General Ledger and Balance Sheet in Scenario 3, you gain vocabulary and understanding that leads to more conscious conversations about:
Money Fabrication and Money Vaporization in Federal Banking
The money re-circulation cycle which is critical to managing money fabrication and inflationary risks when money production is part of the global commercial system
The corporate and billionaire money siphon that has disrupted healthy money recirculation systems required to support economies seeking a middle class
Alternatives to 1) money creation systems dependent solely on debt based distribution systems 2) the bitcoin "mining" system which most have not slowed down enough to question and 3) other money fabrication and distribution schemas that might be better for long term balance, for those capable of processing this information.
If you have completed the BK Configuration Guide properly this is where you will be:
The Chart of Accounts has been modified for your needs
ZIDs have been added if needed
The Statements Worksheet data tables are properly labelled and some may have been added or hidden.
The Raw Transaction worksheets have been customized for your custom download data sets (can be done after this). If you have corporate credit cards, that functionality may or may not be fully configured yet.
The Journal worksheets are properly labeled (top of sheet and sheet name) and ready for records.
The Income Statement Cash Delta Sub Report is prepped
The Balance Sheet is ready
Starting a new digital bookkeeping file for a new business with NO PRIOR HISTORY is a piece of cake.
Starting a new digital bookkeeping file for an existing business with ALL PRIOR HISTORY should be easy.
Starting a new digital bookkeeping file for an existing business from a date other than t=0 for all accounts is a Master-able Art Form.
The financial fabrication education that comes from learning Scenario #3 will likely shock many.
THREE Scenarios will help you determine the work you need to do for this step in your setup process. (expand)
Scenario 1 - Users starting files for personal or business use where there is ZERO PRIOR DATA for the person or business. All accounts were just opened and you will be entering all data from the account opening date (referred to as t=0) . As soon as you complete the few steps for entering ZERO VALUE opening Balances, you will move on to the Standard Use process.
Scenario 2 - Users starting files for personal or business use where there is FULL, KNOWN HISTORY related to their account, and they are going to BRING IN ALL OF THAT HISTORY into their new file. This requires the exact same Starting Balance work as Scenario 1. After that this user will need to do some bulk importing work and preliminary reconciliation work prior to moving on with the Standard Use process.
Scenario 3 - Users starting files for personal or business use where there is FULL or PARTIAL DATA HISTORY related to their accounts, BUT they are only going to BRING IN A PORTION OF IT, by choice or by limitation. This scenario is the only scenario that offers an opportunity to experience the accounting machinations for "money fabricated from thin air" and an introduction to the applied use of the "ZAP Special" Account type detailed below.
Option 1 (Multiple Data Start Dates) - With this option you will start the record keeping for each Account with a Start Date that aligns with one of the Bank Statements for each account. This is the easier of the two options, but it may create a unique situation related to transfers where money will need to "vaporize" via our ZAP Special Account Type too..
Option 2 (A singular Data Start Date) - With this option you will start the record keeping for each account at a singular, arbitrary date that may not align with a start date for any of the Bank Statements. This is the more complex option as each account will need some "scratch work" done to calculate opening balances. This option was previously chosen by many because it excludes the necessity to "vaporize" money, which was more confusing until we added the "ZAP Special" Account type.
The STATEMENT WORKSHEET Opening Balance and First Statement Start Date Values for Scenario 1, 2 and 3 (option 1) are straight forward. Scenario 3 (option 2) requires scratch pad work for calculating a faux Starting Balance and a faux First Statement Start Date for each tracked account
The ONE LINE JOURNAL Opening Balance Records for Scenario 1, 2 and 3 (option 1) are straight forward. Scenario 3, Option 2 will use the same scratchpad work used for the prior step for the Opening Balance Record.
GENERAL JOURNAL Records would only be relevant for Scenarios 2 and 3 and you will just be copying in from prior systems.
We have "created" a 6th Account type for Digital Accounting. It's called "ZAP Special".
Our "ZAP Special" Account is used to fix a long standing issue with Digital Software setup in a similar but better way than "suspended expense accounts".
Learning about the ZAP Special Account Type is easiest with Scenario 3, Option 1, as two of the four uses for these types of accounts have to be understood out of the gate due to the requirement to fabricate and potentially dissolve money from the get go!
Your next stop is on the Top Menu on this website. You are going to pick from one of the THREE SCENARIO's offered.
No matter which you pick you will be entering opening balances.
In Scenario 1 and 2 those Opening Balances will be ZERO and you won't be able to see much relevance in the ZAP Special Account/Category. We'd encourage you to review Scenario 3 then for education.
In Scenario 3 you'll get a good Education on ZAP Special and the money fabrication and vaporization process in a way that is relevant to you and our larger community.
Go now to the Top Menu on this page, go to the THREE SCEENRIOS menu item and select the appropriate scenario for you!
Go to the BK User Guide.
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