Should I start accounting software with current year or previous year (small company)?
Should I start accounting software with current year or previous year (small company)?
I just started a consulting business last year and I am the owner of my one man operation. I recently bought a nice accounting program (Small business accounting from microsoft) and I want to know if I should start my electronic books from this year or dig up last years receipts, statements, and other documents to start from 2005 forward. or should I start fresh from this year and keep my paper books on file and start electronic this year
Answers:
Chosen Answer
van_huzendt: Thru my experience, start with the opening balances from the previous year. No need to key in the previous year transactions...
2006-03-12 22:26:17
van_huzendt: Thru my experience, start with the opening balances from the previous year. No need to key in the previous year transactions...
2006-03-12 22:26:17
melvinschmugmeier: My suggestion would be for you to start with some summary level information from the prior year. There's no need to key in all of the transaction level details from the prior year, but the summary information will be useful for comparative purposes.
2006-03-13 03:23:02
2006-03-13 03:23:02