COMPANY KIT, normally, is a for sale commercially packaged self-instruction product containing written instructions, forms, software (sometimes), for establishing an enterprise.
OPEN BALANCE EQUITY is an account that is automatically created by QuickBooks whenever a company is created. It is an equity account similar to Retained Earnings or Owner Capital. The Open Balance Equity account is basically a "plug" account used by QuickBooks to balance a transaction (basic accounting debits=credits). QuickBooks will enter a balance in the Open Balance Equity account for two reasons: beginning account balances or forced adjustments.
UNAPPLIED FUNDS is available money credited to a temporary holding (suspense) account, pending determination or instruction on the breakdown of how the money is to be allocated.
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