We are preparing to use the Accounting module in January 2009. I would like to begin setup now to have accounts all in place, payroll ready to roll, etc. the first week of January.
Is it possible to advance setup Accounting, and go back in later to enter beginning balances? If so, how would I do that?
Setting Up Accounting Before Start Date
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Zorak
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You can set up the accounting without entering beginning balances.
You have to complete the setup process to begin setting up Payroll employees, items, tax tables, and things like Accounts Payable vendors, check formats.
Once the Accounting Setup Assistant has been "completed" there is no going back to revisit fields in the setup assistant. You would, at that point, need to make journal entries against the accounts to "adjust" balances in as of January 1, 2009.
There have been quite a few forum posts about this, I'm sure if you search for "beginning balance" you will find a hundred or so posts regarding beginning balance journal entries.
You have to complete the setup process to begin setting up Payroll employees, items, tax tables, and things like Accounts Payable vendors, check formats.
Once the Accounting Setup Assistant has been "completed" there is no going back to revisit fields in the setup assistant. You would, at that point, need to make journal entries against the accounts to "adjust" balances in as of January 1, 2009.
There have been quite a few forum posts about this, I'm sure if you search for "beginning balance" you will find a hundred or so posts regarding beginning balance journal entries.