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After Converting
Understanding Balances after Converting from QuickBooks
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After Converting
After your company data has been imported into Peachtree Accounting, you
have the final set up work to complete.
have the final set up work to complete.
Understanding Balances after Converting from QuickBooks
While converting QuickBooks data, Peachtree will assign beginning balances
to accounts, customers, vendors, employees, and inventory items that are
converted. These balances represent the current balance in QuickBooks at the
time of the conversion. For example, if you have $148.00 worth of
outstanding purchase invoices due to a vendor, Peachtree will convert this
amount as the vendor’s beginning balance.
to accounts, customers, vendors, employees, and inventory items that are
converted. These balances represent the current balance in QuickBooks at the
time of the conversion. For example, if you have $148.00 worth of
outstanding purchase invoices due to a vendor, Peachtree will convert this
amount as the vendor’s beginning balance.
QuickBooks current balances are converted to Peachtree Accounting as of
the day before the first period you chose to enter data. During the
conversion process you are prompted to set up accounting periods that will
make up Peachtree's fiscal year. You must also enter the period number in
which you will be first entering data.
the day before the first period you chose to enter data. During the
conversion process you are prompted to set up accounting periods that will
make up Peachtree's fiscal year. You must also enter the period number in
which you will be first entering data.
For example, you are converting QuickBooks company data on 12/15/99.
During the conversion, Peachtree prompts you to set up your accounting
periods. If period 12 is set up as 12/1/99 to 12/31/99 and is also chosen as the
first period in which you will be entering data, Peachtree will convert all
balances as of 11/30/99 (not 12/15/99).
During the conversion, Peachtree prompts you to set up your accounting
periods. If period 12 is set up as 12/1/99 to 12/31/99 and is also chosen as the
first period in which you will be entering data, Peachtree will convert all
balances as of 11/30/99 (not 12/15/99).
Peachtree will convert the “total” current balance of the record in
QuickBooks. This means that if you entered transactions in future periods in
QuickBooks, these amounts will also be included in account and record
balances.
QuickBooks. This means that if you entered transactions in future periods in
QuickBooks, these amounts will also be included in account and record
balances.
Peachtree Vendor and Customer Beginning Balances
Peachtree vendor and customer beginning balances are not posted to the
General Ledger. These balances are assumed to already be present in the chart
of accounts at the time of the conversion.
General Ledger. These balances are assumed to already be present in the chart
of accounts at the time of the conversion.
When you are ready to make a vendor payment or customer receipt, the
balance will be available to write the transaction against.
balance will be available to write the transaction against.
Note