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Bethmw

Entering Historic Data properly

Posted By

Using Sage 50 Canada.

I created a new file for a company in order to change the fiscal year dates.  Had to do this as there were transactions into the new year in the old file that prevented me from changing the date.

I have imported the chart of account names and numbers, vendor lists and projects.  This company does not use the payroll module.  

I am now at the point where I need to enter historical data.  I need to know the best method for accomplishing this.  Is it a combination of importing transactions and manually entering data?  In what order should I do this?  If I am importing transactions, how far back should I import?  Trying to be thorough and as efficient as possible.  This is my first time having to enter historic data.  I have been lucky in this way so far in my bookkeeping experience.

Thank you

  • 0

    determining how far you go back is determined by how far is necessary.  

    I would have sage import this for me as they have technology to do this faster than the average person as they do this everyday. 

    Before going to all that trouble go to your help tab to see if there is a fix for the first issue (transactions in new year).  As aside I have never had issues with changing my year and carrying on while being audited by accountant.  I should clarify that I am using remote data service (shared drive).  

  • 0

    If company is still in history mode,  AR and AP invoices there is a HISTORY tab allowing the user to enter invoices without creating a journal entry and for the Chart of Account there is an opening balance field. If there is a large number of invoices to be imported let me know. 

  • 0 in reply to GwG

    Thank you!  I have used this feature to enter invoices for vendors that had outstanding balances and it has worked well.  I now have to enter transactions that occurred this year that had already been entered in the old file.  I don't think there is an easy way to do that, so I will just enter them one by one like new entries.

*Community Hub is the new name for Sage City