Hi great course!
Converting from Peachtree to QuickBooks:
1. How do I enter Peachtree YTD customer payments into QB?
2. Can the above be done and so that both A/R per customer and YTD Gross Revenue is correct?
Hi Jim, glad you liked our QuickBooks Course! There are a number of ways to record income/expenses and balance sheet accounts when you are converting from another system. In general, the approach depends on how much data you are trying to bring over (1 year, 6 mos, 3 mos.) Since I don’t have that information, I recommend the following approach:
1. Enter a journal entry to record YTD Income and Expenses
2. Enter all open customer invoices into QuickBooks. If there are too many invoices to enter, then enter the opening customer balance when first create the customer in QuickBooks.
3. Enter a deposit into QB for all customer payments. Make sure you use the exact date so that you can reconcile the bank account later on.
Intuit will also provide free support to help you convert your data. Give them a call at 1-800-446-8848 and let them know that you need help converting from Peachtree to QuickBooks.
Best of luck,
Crystalynn Shelton, CPA
315 Madison Avenue, 24th Floor
New York, NY 10017
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