Why should I enter historical transactions?
If the start date you entered for your company is before today's date,
you'll need to enter your past (historical) transactions, beginning with
that date. entering historical data, data, historical, historical transactions, . This ensures that your QuickBooks records will be completely
up-to-date, going forward from your start date.
If you are using an earlier start date, and you don't enter your
historical transactions, your account balances and reports may be
incorrect.
Follow these guidelines when entering historical
transactions
Enter historical transactions in sequential order. entering historical data, data, historical, historical transactions, . For example, QuickBooks
won't know how to credit a customer payment unless you've previously
recorded the invoice. entering historical data, data, historical, historical transactions, . Enter bank account transactions last, because your
accounts payable and accounts receivable affect your bank account balances. entering historical data, data, historical, historical transactions, . By
the time you finish entering all of your historical transactions, your check
register should be nearly up to date.
If you don't have time to enter all your historical transactions right
away, don't worry. entering historical data, data, historical, historical transactions, . You don't have to enter all your past transactions
before you start using QuickBooks for your current transactions. entering historical data, data, historical, historical transactions, . Start entering
current transactions as they occur, so you don't get behind. entering historical data, data, historical, historical transactions, . Then catch up
with historical transactions when you can. entering historical data, data, historical, historical transactions, . If current and historical
transactions are related, enter the earlier one first. entering historical data, data, historical, historical transactions, . For example,
if you receive a payment today for an invoice you have not yet entered, enter
the invoice first and then use QuickBooks to record the payment. entering historical data, data, historical, historical transactions, . That way,
QuickBooks correctly links your transactions to each other.
Remember, though, that your account balances will be incorrect (and your
reports may be wrong) until you've entered all the past transactions.
Enter historical transactions in chronological order. entering historical data, data, historical, historical transactions, . For example,
QuickBooks won't know how to credit a customer payment unless you've
previously recorded the invoice. entering historical data, data, historical, historical transactions, . Enter bank account transactions last, because
your accounts payable and accounts receivable affect your bank account
balances. entering historical data, data, historical, historical transactions, . By the time you finish entering all of your historical transactions,
your check register should be nearly up to date.
Note: If the start date you entered for your company is before today's date and you don't enter your historical transactions, your account balances and reports may be incorrect.
To do this task
Enter your transactions in the following order:
Sales and accounts receivable
transactions. (invoices, statement charges, sales receipts, returns,
payments, deposits, sales tax payments)
Vendor and accounts payable
transactions. (bills, credits from vendors, payments)
Summarize
payroll amounts for this year to date.
Enter historical bank and credit card
transactions. (checks, deposits, fees, transfers)
Reconcile your bank account.
(after entering historical transactions)
See also