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Where and how do I enter last year's Balance Sheet data so that I can proceed with the new fiscal year? Thanks.
10/22/09 1:55 PM, Viewed by asker 10/28/09 12:15 PM
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Total Views: 57
I'm late in starting Quick book experience and my new fiscal year. How do I enter last year's information to correctly start my new fiscal year and get my final opening balances. Please help me! I thank you greatly in advance.
All Replies: Answers (1)
Rating + 5
Answer
10/24/09 7:19 AM
Were you already using QuickBooks for last year? If so, there is no need to start a new year--you just continue with the same file.
If you're starting a new QuickBooks data file, then there are several steps to entering opening balances and open transctions as of the start date. There are several journal entries involved.
PLEASE mark this answer as solved (click the button under the answer in the lower, right corner) or post additional questions. Thanks so much!!!
Michelle L. Long, CPA, MBA
Author of the book "Successful QuickBooks Consulting"
http://www.LongforSuccess.com
Linkedin Group: http://bit.ly/9e3RB
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Author of the book "Successful QuickBooks Consulting"
http://www.LongforSuccess.com
Linkedin Group: http://bit.ly/9e3RB
Facebook Page: http://bit.ly/1q72VW
