Just beginning to start w/ QB – can I load balances as of today and use go forward and work backward at the same time ?? or should I start loading transactions from the beginning ??
This is a terrific question and one that I get asked often. Determining your QuickBooks start date is one of the most important decisions you will make. My recommendation is that you start with the beginning of the year (Jan 1) and work your way forward. You never want to go back and forth because that just won’t work when you’re trying to reconcile bank and credit card accounts. If you don’t have the time to go back to the beginning of the year, I recommend the beginning of this quarter (October 1). Just make sure that you have your data for January thru September organized for tax purposes.
Crystalynn Shelton, CPA
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