What account do I debit/credit when transferring a checking account balance over to a new accounting software? I know that you debit the checking acct. What do you credit?

What do you do with the undeposited funds account when tranferring over to new accting program? Quickbooks shows money undeposited on March 31st but was deposited on April 3rd. We closed out Quickbooks March 31st and started Peachtree on April 1st. What do I do?

Thank you for your help.

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Originally Posted by taybrad2

What account do I debit/credit when transferring a checking account balance over to a new accounting software? I know that you debit the checking acct. What do you credit?

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What??

I don't understand what you are doing here.

You are taking money from one chequing account and what putting it in another one?

Quote:

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Originally Posted by taybrad2

What do you do with the undeposited funds account when tranferring over to new accting program? Quickbooks shows money undeposited on March 31st but was deposited on April 3rd. We closed out Quickbooks March 31st and started Peachtree on April 1st. What do I do?

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General Notes:
It seems like you are using Computer Program A which has all your balances and now want to start using Computer Program B, aka Quickbooks.

If you have $1,000 in your chequing account, just debit your new program by 1,000 and credit your old program by 1,000