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Accounts created due to errors when converting from other software

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QuickBooks creates the following accounts only if it encounters an accounting issue when converting a company from Peachtree or Microsoft® Small Business Accounting/Office Accounting. These accounts will have no account number.

What do I do with these accounts?

Talk to your accountant for assistance on fixing transactions in these accounts. If you don't have an accountant, Intuit can help you find one. If you need more help, you can visit the Go online QuickBooks Support site on the Web.

Some strategies are:

  • Merge the error account with another account that was converted from the original company. For example, an Account Name-B* account can be merged with another Bank account.

  • Create a Journal Entry that transfers funds to another account, leaving a balance of 0 in the error account, then hide the account.

  • Fix the problem in Peachtree or Small Business Accounting/Office Accounting, then reconvert the file.

    For example, some of these accounts are created when the original transactions post to accounts of an invalid type. To fix it, you could open Peachtree or Small Business Accounting/Office Accounting, locate the problem transaction, and change it to post to an account of the correct type.

List of accounts created due to errors

  • Half Cent Account*

    Type: Other Expense

    Description: Contains discarded half cent values that arise when handling rounding differences between QuickBooks and the application used to create the original company file. In particular, this is used when handling rounding of values associated with job costing on payroll taxes in paychecks.

  • *Cash Basis Accounts Receivable* (Peachtree only)

    Type: Accounts Receivable (A/R)

    Description: A clearing account used for conversions of companies configured for cash basis accounting (as opposed to accrual based accounting).

  • *Cash Basis Accounts Payable (Peachtree only)

    Type: Accounts Payable (A/P)

    Description: A clearing account used for conversions of companies configured for cash basis accounting (as opposed to accrual basis accounting).

  • Account Name-A*

    Type: Other Current Asset

    Description: Contains Invoice, Customer Payment, and Credit Memo transactions that accidentally post to an Accounts Receivable account instead of to an income or expense account. Also contains Invoice transactions that were posted to an A/R account twice, on both the debit and credit sides.

    For example, if an income from a customer payment is accidentally posted to an A/R account instead of an income account, the conversion will create an Other Current Asset account named "Accounts Receivable-A*" for the transaction.

  • Account Name-AR*

    Type: Accounts Receivable

    Description: Contains Invoice and Customer Payment transactions from the original file that do not post to an A/R account. QuickBooks requires these types of transactions to post to an A/R account.

    For example, if an Invoice/Payment was originally posted to an account named "Other Income" (an income type account) and not to an A/R account, it will appear in an A/R account named "Other Income-AR*".

  • Account Name-AP*

    Type: Accounts Payable

    Description: Contains Bill or Bill (vendor) payments from the original file that do not post to an A/P type account. QuickBooks requires these types of transactions to post to an A/P account.

    For example, if a Bill or Bill payment was posted to an account named "Property Tax Payable" and not to an A/P account, it will appear in an A/P account named "Property Tax Payable-AP*".

  • Account Name-B*

    Type: Bank

    Description: Contains Check, Deposit, and Payment transactions from the original file that do not post to a Bank account. QuickBooks requires these types of transactions to post to a Bank account.

    For example, if a Check or Deposit was posted to an Expense account called "Bad Debt" in Small Business Accounting/Office Accounting, it will appear in a Bank account named "Bad Dept Expense-B".

  • Account Name-L*

    Type: Other Current Liability

    Description: Contains Bill Payment and Bill Credit transactions that accidentally post to an Accounts Payable account instead of to an income or expense account. Also contains Bill transactions that were posted to an A/P account twice, on both the debit and credit sides.

    For example, if the expense for a bill payment is accidentally posted to an A/P account instead of an expense account, the conversion will create an Other Current Liability account named "Accounts Payable-L*".

  • MissingInvAsset

    Type: Other Current Asset

    Description: Contains the total cost of all inventory items that do not have an inventory asset account associated with them.

  • MissingInvCOGS

    Type: Cost of Goods Sold

    Description: Contains transactions for inventory items that do not have a COGS account associated with them.

  • MissingInvSales

    Type: Income

    Description: Contains transactions for inventory items that do not have an income account associated with them.

See also

KB ID# H_CONVERSION_COA_NEW_ACCOUNTS
12/9/2016 5:31:31 AM
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