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    annette22's Avatar
    annette22 Posts: 1, Reputation: 1
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    #1

    Mar 10, 2009, 12:00 PM
    Beginning Balances
    When starting a new account software which accounts should come forward from old software as beginning balances
    codyman144's Avatar
    codyman144 Posts: 544, Reputation: 31
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    #2

    Mar 10, 2009, 01:52 PM

    What software were you using and what are you moving to? Typically you would move all accounts but you need to be really careful about this. For example if you move customer AR balances in some systems will see this as new revenue of the current period when it is not. I recommend doing this kind of change at your fiscal year end if possible.

    Like I said you have to be really careful, double and triple check everything. This is easiest to do at year end when all the revenue and expense accounts have zero balances.

    Let me know if you have any more questions.
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