I have a lot of excel data from January 2011, the start of my fiscal year, and I am just new to Quickbooks. My question is, what to use as my start date? Is it better to use a start date of today or January? I have little time to add lots of info.
It is entirely up to you, depending on
a) how much detailed historical data you want in your file, and
b) how much time you are willing to spend doing it.
You are the only one who can make the decision.
In any case, the "start date" is only a guideline.
The quickest way, with the least historical detail, is to start entering current transactions immediately (say, from August 1) and one day when you have sufficient time enter "beginning balances" as at July 31 for all accounts base on your Excel data. In this case it would be logical to choose Aug 1 for your "start date" - but it doesn't really matter because you can change your mind by entering beginning balances for any earlier date instead and then entering the detailed transactions between that date and July 31.
However - since you are converting from Excel you may not have a complete trial balance as at July 31 from which to enter beginning balances (perhaps not at any date except your December 31 year-end). In this case you may find it easier to enter beginning balances as at December 31, begin entering current (August) transactions immediateldy, and enter the January-July transactions later. In this case January 1 would be the logical "start date" - but again, it doesn't really matter because this is only a guideline.
In any case, as you are converting mid-year from Excel data I suspect you will need the assistance of a QB ProAdvisor, professional accountant, or VERY competent bookkeeper with QB experience, at some point, to complete your setup.
